Rane Brake Lining Limited has informed the Exchange that Record date for the purpose of Merger/HiveOff is 22-Apr-2025 for determining the shareholders to whom equity shares of Rane (Madras) Limited would be allotted.
Awaiting price reaction for this filing.
Rane Brake Lining Limited has set 22-Apr-2025 as the record date to identify eligible shareholders for the proposed Merger/Hive-Off arrangement. Shareholders on the books as of this date will receive equity shares of Rane (Madras) Limited as part of the hive-off. This is a key milestone, indicating that the scheme of arrangement has received the required clearances and is moving toward execution. The allotment ratio and exact share entitlement would have been detailed in earlier scheme documents filed with the exchanges.
Shareholders holding Rane Brake Lining shares on the record date will become shareholders of Rane (Madras) Limited, effectively spinning off that business as a separate listed entity. Existing investors should expect a share entitlement without needing to take any action, and should watch for the demerged entity's separate listing and trading value post-allotment.