Rane Madras Ltd allots 365630 shares

The allotment of committee of the board of directors of Rane Madras Ltd at their meeting held today has allotted 3,65,630 equity shares of face value of Rs.10/- each, as fully paid-up pursuant to exercise of 3,65,630 warrants allotted by RML on September 11, 2017 on preferential basis to Rane Holdings Limited (holding Company). The allotment has been made for cash, upon receipt of entire balance of 75% of issue price i.e., Rs. 14,99,99,707.50 (warrant exercise price). These equity shares now allotted, shall rank pari passu in all respects with the existing equity shares, including dividend, if any.

Shares of RANE (MADRAS) LTD. was last trading in BSE at Rs.505.5 as compared to the previous close of Rs. 494.85. The total number of shares traded during the day was 348 in over 49 trades.

The stock hit an intraday high of Rs. 512.75 and intraday low of 495.3. The net turnover during the day was Rs. 175597.

Source : Equity Bulls

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