Board of Rane Madras allots 849 lakh equity shares on conversion of warrants

15 Jan 2022 , 01:35 AM

The Board of Rane Madras at its meeting held on 11 January 2022 has issued and allotted 849979 equity shares of face value of Rs10 each fully paid-up pursuant to the exercise of 849979 convertible warrants conversion of the entire balance outstanding 849979 warrants by Rane Holdings RHL The allotment has been made for cash upon the receipt of warrant exercise price of Rs176475 per warrant being balance 75Percentage of issue price of Rs23530 per warrant aggregating Rs15 crores These equity shares arising on conversion of the warrants shall rank pari passu in all respects with the existing equity shares including dividend if any