Rane Madras Ltd allots securities to Rane Holdings Ltd

The allotment committee of the board of directors of Rane Madras Ltd has on September 11, 2017 allotted the following securities to Rane Holdings Limited:

- 10,96,892 equity shares of face value of Rs.10/- each, fully paid up, for cash, at a price of Rs.547/- each; and

- 3,65,630 warrants of face value of Rs.10/- each, for cash, at a price of Rs. 547/- each, convertible into 3,65,630 Equity shares of face value of Rs.10/- each, fully paid up at a price of Rs. 547/- per share at any time on or before the expiry of 18 (eighteen) months from the date of allotment.

Shares of RANE (MADRAS) LTD. was last trading in BSE at Rs.493.45 as compared to the previous close of Rs. 485. The total number of shares traded during the day was 2476 in over 65 trades.

The stock hit an intraday high of Rs. 493.45 and intraday low of 482. The net turnover during the day was Rs. 1205069.

Source : Equity Bulls

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