Rane (Madras) Limited has informed the Exchange that Record date for the purpose of Merger/HiveOff is 22-Apr-2025 for determining the shareholders of Rane Engine Valve Limited and Rane Brake Lining Limited to whom equity shares of the Company are to be alloted as per the share exchange ratio.
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Awaiting price reaction for this filing.
Rane (Madras) Limited has fixed 22 April 2025 as the record date for its merger/hive-off scheme. On this date, the company will identify the shareholders of Rane Engine Valve Limited and Rane Brake Lining Limited who are entitled to receive equity shares of Rane (Madras) Limited. The allotment will happen as per the share exchange ratio already approved under the scheme. This is a key execution step that brings the restructuring of the Rane group entities closer to completion. Shareholders of the two transferor companies must hold shares on the record date to be eligible for the new shares.
This is largely procedural but confirms the merger/hive-off is moving forward as planned. Investors holding shares in Rane Engine Valve or Rane Brake Lining should be in the demat account by 22 April 2025 to receive their entitlement in Rane (Madras). The stock may see some movement as the exchange ratio is now crystallised for actual allotment.