Rane Group to consolidate its listed operational entities

After keeping different operational listed entities for years, Rane Group, one of the key players in Auto Ancillary space has decided to consolidate its listed operational companies under Rane (Madras) Limited.

- ANIRUDHA JAIN

Rane Engine Valve Limited (hereinafter referred to as "REVL" or "Transferor Company-1") was incorporated in 1972, is engaged in the business of manufacturing and marketing of auto components for transportation industry viz., engine valves, valve guide and tappet.

The equity shares of the Transferor Company-1 are listed on BSE Limited ("BSE") and National Stock Exchange of India Limited ("NSE").

Rane Brake Lining Limited ("hereinafter referred to as "RBL" or "Transferor Company-2") was incorporated in 2004 engaged in the business of manufacturing and marketing of auto components for transportation industry viz., friction material (Disc Pads, Brake Shoes, Clutch Facings, Clutch Buttons, Brake Linings and Brake Blocks). The equity shares of the Transferor Company2 are listed on BSE and NSE.

Rane (Madras) Limited (hereinafter referred to as RML" or "Transferee Company") was incorporated in 2004 is engaged in the business of manufacturing and marketing of auto components for transportation industry viz., steering and suspension systems, linkage products, steering gear products and aluminium alloy based high pressure die-casting products. The equity shares of the Transferee Company are listed on BSE and NSE.

All three entities involved, REVL, RBL and RML are subsidiaries of Rane Holdings Limited which is also a listed company.

The Proposed Transaction