Rane Engine Valve Limited (Transferor Companies) and Rane Brake Lining Limited (Transferor Companies) has officially announced the merger with Rane (Madras) Limited (Transferee Company) following approval from the National Company Law Tribunal (NCLT), Chennai Bench. The amalgamation of the Transferor Companies and the Transferee Company engaged in manufacturing auto components like steering gears, braking systems, and engine valves aims to simplify the group structure by consolidating operations under a single listed entity. This consolidation aligns shareholder interests, enhances strategic focus, and promotes comprehensive business integration. The merger is expected to yield revenue and cost synergies, expand product offerings, and diversify revenue streams. It will also lead to more efficient resource allocation, streamlined support functions, and improved capital availability. Furthermore, combining talent across entities will strengthen organizational capabilities and leadership.
As part of the merger, Rane Engine Valve Limited shareholders will receive 9 shares of Rane (Madras) Limited for every 20 shares held, while shareholders Rane Brake Lining Limited shareholders will receive 21 shares of Rane (Madras) Limited for every 20 shares held.
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