Rane Holdings (RHL) has further acquired (creeping acquisition) 1,80,000 equity shares of Rs 10 each fully paid up (2.33%) in its subsidiary Rane Brake Lining (RBL) through open market purchase. The aggregate equity shareholding of RHL in Rane Brake Lining post this acquisition stands increased from 47.70 % to 50.03%. The cost of acquisition is Rs 11.25 crore (approximately) excluding charges & taxes.
Rane Holdings is the holding company of the Rane Group.