Rane Group Merger: Check Shareholder Entitlement Ratio and Other Details

In February 2024, the Rane Group announced the merger of Rane Brake Lining and Rane Engine Valve into Rane (Madras), aiming to establish a unified platform that will facilitate future growth.

The shareholders of Rane Brake Lining Ltd. and Rane Engine Valve Ltd. who are eligible to receive shares in Rane (Madras) Ltd. will have their eligibility determined on Tuesday, April 22. This date has been set as the record date for the proposed merger between the companies.

This restructuring will consolidate all operating subsidiaries under a single entity, which will report a combined turnover of ₹3,373 crore for the 12-month period ending December 2023, as stated by the Rane Group last year.

Objective of Rane Merger

According to the scheme of arrangement, this move is intended to streamline the group’s structure, enabling the full value of its listed operating businesses to be captured, unlocking synergies across product lines, and improving both operational and financial efficiencies. Additionally, the larger entity will have increased flexibility to raise capital for organic and inorganic growth.

The National Company Law Tribunal (NCLT) approved the scheme of arrangement in March this year.

Also Read: Check History and Presence of Rane Group

Entitlement Ratio and Record Date

• Shareholders of Rane Brake Lining Ltd. will receive 21 fully paid-up equity shares of Rane (Madras) Ltd. for every 20 shares they hold as of the record date.

• Shareholders of Rane Engine Valve Ltd. will receive 9 fully paid-up equity shares of Rane (Madras) Ltd. for every 20 shares they hold as of the record date.

• The record date for determining shareholder eligibility is set for Tuesday, April 22.

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