This is to inform that the Working Committee of the Board of Directors at their meeting held today, have inter alia (i) Noted the receipt of the certified copy of the order dated March ....
Awaiting price reaction for this filing.
The NCLT has sanctioned the Scheme of Amalgamation merging Rane Engine Valve Limited (REVL) and Rane Brake Lining Limited (RBL) into Rane Madras Limited (RML), the listed Transferee Company. The scheme became effective on April 7, 2025, with the Appointed Date being April 1, 2024. Under the share exchange ratio, RBL shareholders will receive 21 equity shares of RML (face value INR 10) for every 20 shares held in RBL, while REVL shareholders will get 9 RML shares for every 8 REVL shares held. The record date for determining eligible shareholders is April 22, 2025. Post-effectiveness, both REVL and RBL will stand dissolved without winding-up, and the offices of their Directors, KMPs, and Statutory Auditors will stand vacated.
RBL shareholders will cease to hold RBL shares and will become shareholders of Rane Madras Limited (RML) in the swap ratio mentioned. RBL stock will likely stop trading or transition to RML, so existing RBL investors should be prepared for share cancellation and receipt of RML shares. This is a group restructuring within the Rane Group and does not involve any cash outflow or open offer.