Rane Holdings has further acquired 83,35,000 equity shares of Rs 10 each fully paid up (12.72%) in its subsidiary Rane t4u (RT4U), pursuant to subscription to the rights issue made by RT4U for Rs 8,33,50,000. The aggregate equity shareholding of RHL in RT4U post this acquisition stands increased to 97.46% (99.33% on a fully diluted basis).
RT4U is a subsidiary of the Company, which offers customized analytics-rich end-to-end telematics/connected mobility solutions for various transportation and asset tracking requirements in India and other countries across South Asia, Middle East and Africa. Acquisition of further shareholding by subscribing to the Rights Issue made by RT4U to meet its working capital requirements and to improve its debt equity position.
Rane Holdings is the holding company of the Rane Group.
