This is to inform that the Working Committee at their meeting held today i.e., April 23, 2025 have inter-alia approved allotment of 1,13,71,870 new equity shares of Rs.10/- each fully paid-up to eligible shareholders of REVL / RBL in accordance with the approved Share exchange ratio. The meeting of the Working Committee of Board commenced at 19:20 hrs (IST) and concluded at 19:40 hrs (IST).
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Rane (Madras) Limited's Working Committee, at a meeting held on April 23, 2025, approved the allotment of 1,13,71,870 new equity shares of Rs.10 each, fully paid-up, to eligible shareholders of REVL (Rane Engine Valves Limited) and RBL (Rane Brake Lining Limited). This allotment is in line with the previously approved share exchange ratio as part of an ongoing scheme of arrangement. The meeting lasted just 20 minutes, from 19:20 hrs to 19:40 hrs IST. This marks the execution stage of the merger/amalgamation process involving the Rane group companies.
This allotment will increase the share capital of Rane (Madras) and dilute existing shareholders' holdings slightly. Shareholders of REVL and RBL will now become shareholders of Rane (Madras), consolidating the group's structure under one listed entity.