Rane’s (Madras) board of directors has approved divestment by way of stock sale of entire holdings in M/s Rane Light Metal Casting Inc., USA (LMCA) held through its wholly owned subsidiary viz., Rane (Madras) International Holdings B.V., The Netherlands (RMIH). The Board at its meeting held on August 28, 2023 has approved the same. The board of directors has authorized the Investment Committee to finalize the terms and conditions including the consideration, parties etc., in connection with the proposed divestment.
Rane (Madras) is the manufacturer of steering & suspension systems for every segment of automobile industry, viz Passenger cars, Multi utility vehicles, Light commercial vehicles, Heavy commercial vehicles and Farm tractors.
