The record date for Merger is fixed as April 22, 2024 in terms of Regulation 42 of SEBI LODR for determining the shareholders of the Company to whom equity shares of Rane (Madras) Limited ....
Awaiting price reaction for this filing.
Rane Brake Lining Ltd has fixed April 22, 2025 as the record date to identify shareholders eligible to receive equity shares of Rane (Madras) Limited under a scheme of amalgamation. Under the approved swap ratio, shareholders will receive 21 equity shares of Rane (Madras) for every 20 equity shares held in Rane Brake Lining. Rane Brake Lining is the Transferor Company and Rane (Madras) is the Transferee Company. The filing is made under SEBI LODR Regulation 42 and follows an earlier intimation dated April 07, 2025, indicating the merger scheme has cleared required approvals.
Investors holding Rane Brake Lining shares as of the record date (April 22, 2025) will automatically receive Rane (Madras) shares in the 21:20 ratio. Existing Rane Brake Lining shares are expected to be delisted upon scheme completion, so investors will end up holding Rane (Madras) shares instead.