Hind Rectifiers Ltd. — Capital/Financing Update 2024

Nov 22, 2024

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Ref No. HIRECT/SEC/2024-25/45

November 22, 2024

BSE Limited National Stock Exchange of India Limited Rotunda Building, “Exchange Plaza” 5t Floor, C-1, Block ‘G Phiroz Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Mumbai 400 001 Bandra (East) Mumbai 400 051 Maharashtra Maharashtra

Security Code No.: 504036 Symbol: HIRECT Type of Security: Equity

Subject: Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Incorporation of a Subsidiary Company

Dear Sir/ Madam,

This is to inform that a subsidiary company with the name Hirect FZ-LLC is incorporated on November 21, 2024 as a wholly-owned subsidiary of Hind Rectifiers Limited, in UAE.

Particulars of the disclosure required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Part A of Schedule III are provided in the Annexure.

Kindly take the same on record.

Thanking you,

Yours faithfully,

For Hind Rectifiers Limited

Meenakshi Digitally signed by Meenakshi Anchlia Anchlia Date: 2024.11.22 11:41:39 +05'30' Meenakshi Anchlia

(Company Secretary & Compliance Officer)

Encl: As above

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Annexure

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Disclosure under sub-para (1) i.e. Acquisition(s) (including agreement to acquire) of Para (A) of Part (A) of Schedule III to the Regulation 30 SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015

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S. No. Particulars Information
1. Name of the target entity, details in Hirect FZ-LLC was incorporated on
brief such as size, turnover etc. November 21, 2024 in the Ras Al
Khaimah Economic Zone (RAKEZ).
The paid-up capital is AED 125,000/-
(One Hundred and Twenty-Five
Thousand Dirhams).
Turnover: Not applicable since this is
newly incorporated Company.
2. Whether the acquisition would fall Hirect FZ-LLC is a wholly owned
within related party transaction(s) subsidiary company of Hind
and whether the promoter/ Rectifiers Limited.
promoter group/ group companies
have any interest in the entity being Initial subscription by the Company
acquired? If yes, nature of interest
does not fall within related party
and details thereof and whether the
transactions.
same is done at “arm’s length”
Mr. Suramya Nevatia, Chairman &
Managing Director (CEO) of Hind
Rectifiers Limited has been appointed
as Manager and Director in Hirect FZ-
LLC.
3. Industry to which the entity being The Company will deal in
acquired belongs Power Generation, Transmission &
Distribution Equipment Trading
Heavy Equipment & Machinery
Spare Parts Trading
Electronic Card Wholesale
Industrial Plant Equipment & Spare
Parts Trading
Wholesale of Non-ferrous Metal Main
Products Trading
4. Objects and effects of acquisition Hirect FZ-LLC is set up as a separate
(including but not limited to, entity and a subsidiary of Hind
disclosure of reasons for acquisition Rectifiers Limited to become more
of target entity, if its business is
customer-focused and leverage the
outside the main line of business of
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	the listed entity)	growth opportunities in the international market.
5.	Brief details of any governmental or regulatory approvals required for the acquisition	Not applicable
6.	Indicative time period for completion of the acquisition	Not Applicable as this intimation is about a newly incorporated subsidiary company
7.	Nature of consideration - whether cash consideration or share swap and details of the same	Not Applicable
8.	Cost of acquisition or the price at which the shares are acquired	Not applicable, as this intimation is about a newly incorporated subsidiarycompany.
9.	Percentage of shareholding/ control acquired and/ or number of shares acquired	Hind Rectifiers Limited will own 100% equity interest in Hirect FZ- LLC.
10.	Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information(in brief)	Not applicable, as this intimation is about a newly incorporated subsidiary company.