The record date for merger is fixed as April 22, 2025 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 Limited has fixed April 22, 2025 as the record date to identify shareholders eligible to receive shares in Rane (Madras) Limited under the approved amalgamation scheme. Under the swap ratio, shareholders will receive 21 equity shares of Rane (Madras) Limited for every 20 equity shares held in Rane Brake Lining. Rane Brake Lining is the transferor company and Rane (Madras) Limited is the transferee company in this share-swap merger. The intimation is being filed under Regulation 42 of SEBI's Listing Obligations and Disclosure Requirements for compliance purposes.
Investors holding Rane Brake Lining shares as of April 22, 2025 will receive Rane (Madras) Limited shares at a 21:20 ratio post-merger. Existing shareholders will transition into shareholders of the merged entity, and the stock price may adjust to reflect the merger terms closer to the effective date.