Rane Engine Valve Ltd allots 171821 shares to Rane Holdings Ltd

The finance committee of the board of directors of Rane Engine Valve Ltd at their meeting held on June 27, 2023 has issued and allotted 1,71,821 equity shares of face value of Rs. 291/- per equity share aggregating Rs. 4,99,99,911.00 to the allottee - M/s. Rane Holdings Limited (RHL), pursuant to the exercise of conversion of 1,71,821 convertible warrants out of the outstanding 5,15,463 warrants held by RHL. The allotment of equity shares has been made for cash, upon the receipt of warrant exercise price of Rs. 218.25 per warrant (being balance 75% of issue price of Rs. 291/- per warrant), aggregating to Rs. 3,74,99,933.25. These equity shares arising on conversion of the warrants, shall rank pari-passu in all respects with the existing equity shares, including dividend.

Shares of Rane Engine Valve Limited was last trading in BSE at Rs. 281.50 as compared to the previous close of Rs. 268.10. The total number of shares traded during the day was 852 in over 14 trades.

The stock hit an intraday high of Rs. 281.50 and intraday low of 279.95. The net turnover during the day was Rs. 238971.00.

Source : Equity Bulls

Keywords

RaneEngineValve INE222J01013 SharesAllotment RaneHoldings WarrantsConversion