Rane Holdings (RHL) has as on May 29, 2023 acquired additional equity stake in its subsidiary -- Rane t4u (Rt4u) by subscribing to 21,60,432 equity shares of Rs 10 each on rights basis and exercising conversion of 2,78,50,000 Compulsorily Convertible Preference Shares (CCPS) of Rs 10 each held in Rt4u into 2,78,50,000 equity shares of Rs 10 each (in the ratio 1:1).
Pursuant to the above acquisition of 3,00,10,432 equity shares of Rs 10 each, the aggregate equity shareholding of RHL in Rt4u stands increased to 99.47% (an increase of 2.01% since the previous disclosure).
Rane Holdings is the holding company of the Rane Group.
