Rane Holdings Limited has acquired 11,61,440 equity shares of Rs10/- each fully paid up (3.10%) in its subsidiary Rane (Madras) Limited (RML) arising on the conversion of the balance outstanding 11,61,440 warrants out of the 17,42,160 warrants into underlying equity shares. The overall shareholding of the company in RML stands increased to 91,22,838 shares (66.52%).
“Rane Holdings Limited belongs to Promoter and promoter group of RML. The issue price is at arm's length and was determined in accordance with the applicable SEBI regulations.
RML is engaged in manufacturing of auto components for transportation industry.
At around 1.54 pm, Rane Holdings Ltd was trading at Rs660 per piece up by Rs10 or 1.54% from its previous closing of Rs650 per piece on the BSE.