Transformers and Rectifiers to invest 10 mln pounds to set up UK arm
This story was originally published at 14:53 IST on 27 August 2026
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--Transformers and Rectifiers to invest 10 mln sterling to set up arm in UK
MUMBAI – Transformers and Rectifiers (India) Ltd. Thursday said it will incorporate a subsidiary in the UK, Maxwell Grid Transformers Pvt. Ltd., with an investment of 10 million pounds (INR 1.30 billion), according to an exchange filing.
The proposed subsidiary will sell transformers manufactured by Transformers and Rectifiers. It will also be involved in related businesses such as manufacturing and repairing transformers. Transformers and Rectifiers will hold 51% stake in the subsidiary.
The company's board also approved reallocating the unutilised proceeds from the company's qualified institutional placement done in 2024. The company will seek approval from shareholders for the reallocation through a special resolution.
For the June quarter, Transformers and Rectifiers had reported a consolidated net profit of INR 615.2 million on revenues of INR 5.72 billion. At 1436 IST, its shares were at INR 305.55 on the National Stock Exchange, up 0.5% from Wednesday. End
Reported by Rosalin Lenka
Edited by Rajeev Pai
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