Board of Rane (Madras) allots 8.49 lakh equity shares on conversion of warrants

11 Jan 2022 , 02:52 PM

The Board of Rane (Madras) at its meeting held on 11 January 2022 has issued and allotted 8,49,979 equity shares of face value of Rs.10/- each fully paid-up pursuant to the exercise of 8,49,979 convertible warrants (conversion of the entire balance outstanding 8,49,979 warrants) by Rane Holdings (RHL). The allotment has been made for cash, upon the receipt of warrant exercise price of Rs.176.475 per warrant (being balance 75% of issue price of Rs.235.30/- per warrant), aggregating Rs.15 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.

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