Special Resolution in connection with sale of surplus land / land parcel(s) has been approved by requisite majority of members on May 29, 2025. Voting results under Regulation 44(3) of SEBI LODR and Scrutinizer's Report dated May 29, 2025 on the Postal Ballot / e-voting are enclosed herewith
RML · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Rane (Madras) Limited has informed the exchanges that a special resolution seeking members' approval for the sale of surplus land / land parcel(s) has been passed with the requisite majority through postal ballot / e-voting on May 29, 2025. The company has submitted the voting results in compliance with Regulation 44(3) of SEBI LODR along with the Scrutinizer's Report dated May 29, 2025. No specific buyer name, deal value, or land area has been disclosed in this filing. The approval now clears the way for the company to proceed with monetising the identified surplus land parcel(s). Shareholders can expect further updates on the completion of the transaction and proceeds received in due course.
This is a non-core asset monetisation move — surplus land sale is typically value-accretive and may unlock cash for the company, but the absence of deal size in this filing means the immediate market impact may be limited. Watch for follow-up disclosures on the actual transaction value and buyer.