This is further to our letter no. RHL/SE/009/2026-27 dated May 15, 2026 regarding Notice of Extra Ordinary General Meeting. In this regard, we enclose herewith copy of the notice of Extra Ordinary General Meeting dated June 12, 2026 being sent to members today (i.e., May 19, 2026) seeking their approval. Remote e-voting commences on June 09, 2026 (Tuesday) at 09:00 hrs (IST) and ends on June 11, 2026 (Thursday) at 17:00 hrs (IST).
RANEHOLDIN · price
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Rane Holdings Limited is convening an Extra Ordinary General Meeting on June 12, 2026 to seek shareholder approval for issuing 3,38,030 fully convertible warrants to promoters at ₹1,183.32 per warrant, aggregating to ₹40 Crores. The warrants will be issued to two promoter allottees: Ganesh L (joint holding with Meenakshi Ganesh) and Harish Lakshman, with each receiving 1,69,015 warrants. Each warrant is convertible into one equity share within 18 months from allotment, with 25% of the issue price (₹295.83) payable upfront and 75% (₹887.49) payable upon exercise. The company plans to use proceeds for strategic investments in group companies, repayment of borrowings, and general corporate purposes.
If approved, promoter holding will increase from 46.63% to approximately 47.87%, resulting in modest dilution for existing shareholders. The warrant structure delays full dilution until conversion, giving the company flexibility. Use of proceeds for debt repayment could improve the company's balance sheet.