Rane Engine Valve 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 Engine Valve Limited has set 22-Apr-2025 as the record date to identify eligible shareholders for a hive-off/merger scheme. Shareholders holding shares of Rane Engine Valve on this date will be allotted equity shares of Rane (Madras) Limited as part of the restructuring. This indicates that the business separation/hive-off scheme has received the necessary approvals and is moving toward execution. The exact share entitlement ratio and scheme details would have been disclosed earlier in the scheme of arrangement.
Eligible shareholders on the record date will receive shares of Rane (Madras) Limited in addition to their existing Rane Engine Valve holdings, giving them a stake in the newly spun-off listed entity. The stock may see adjusted trading and price action around the record date as investors position for the share entitlement.