Rane (Madras) Ltd allots 8,49,978 equity shares to Rane Holdings Ltd

The issue and allotment of committee of the board of directors of Rane (Madras) Ltd at their meeting held on March 29,2021 has issued and allotted 8,49,978 equity shares of face value of Rs.10/- each fully paid-up pursuant to the exercise of 8,49,978 convertible warrants (partial conversion of the 25,49,936 warrants) by Rane Holdings Limited (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.15,00,00,000.

These equity shares arising on conversion of the warrants, shall rank paripassu in all respects with the existing equity shares, including dividend, if any.

Shares of RANE (MADRAS) LTD. was last trading in BSE at Rs.357.6 as compared to the previous close of Rs. 357.85. The total number of shares traded during the day was 884 in over 110 trades.

The stock hit an intraday high of Rs. 368.45 and intraday low of 355.5. The net turnover during the day was Rs. 320386.

Source : Equity Bulls

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