RANE (MADRAS) LTD. - 532661 - Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Please find enclosed a copy of the certificate dated October 03, 2023, received from M/s. Integrated Registry Management Services Private Limited, RTA of the Company for the quarter ended September 30, 2023 RANE (MADRAS) LTD. - 532661 - Closure of Trading Window
in accordance with Rane''s Insider Code, the Trading Window would remain closed for Promoters, Directors, other connected persons and designated employees of the Company from Sep 30, 2023 to Nov 01, 2023 (both days inclusive) for the purpose of considering the unaudited financial results (standalone and consolidated) for the quarter and half year ending Sep 30, 2023 RANE (MADRAS) LTD. - 532661 - Board Meeting Intimation for Consider And Approve The Unaudited Financial Results For The Quarter Ending September 30, 2023
RANE (MADRAS) LTD.has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 30/10/2023 ,inter alia, to consider and approve the Unaudited Financial Results (standalone & consolidated) for the quarter ending September 30, 2023. Further, in accordance with Rane''s lnsider code to regulate, monitor and report trading by insiders, the ''Trading window'' would remain closed for Promoters, Directors, other connected persons and designated employees of the company from September 30, 2023 to November 01, 2023 (both days inclusive) for the purpose of considering the Unaudited Financial Results (standalone & consolidated) for the quarter and half-year ending September 30, 2023. RANE (MADRAS) LTD. - 532661 - Setting Up Of Wholly Owned Subsidiary In Mexico
We would like to inform you that the Investment Committee of the Board of Directors of the Company at its meeting held on September 28, 2023, has approved setting up of a Wholly Owned Subsidiary in Mexico viz., M/s. Rane Automotive Components Mexico S de R.L. de C.V. (RACM). RACM will establish a greenfield manufacturing facility to manufacture steering and linkage auto components catering to customers in Mexico and North American Region. The meeting of the Investment Committee of the Board of Directors Commenced at 11.30 hrs (IST) and concluded at 12:00 hrs (IST). RANE (MADRAS) LTD. - 532661 - Divestment / Disposal Of Subsidiary - Completion
On September 14, 2023, upon completion of the customary closing conditions, the entire holdings in M/s. Rane Light Metal Casting Inc., USA (LMCA) held through its wholly owned viz., Rane (Madras) International Holdings B.V., The Netherlands (RMIH), has been divested to Kentucky International Holdings, Inc., (KIH) a Kentucky corporation. Consideration for the divestment stands determined as USD 4.90 million, after working capital adjustments, of which USD 2 Million has been received and the balance USD 2.90 million is secured by way of deferred payments as per the Share Purchase Agreement (amended) and other transaction documents entered into with KIH on September 14, 2023. LMCA has ceased to be a step-down subsidiary of the Company/part of the Rane Group, effective from September 14, 2023. Rane(Madras) sells loss-making US arm as revival fails
Rane (Madras) inks share purchase agreement with Kentucky Industrial Holdings for sale of RaneLightMetalCasting RANE (MADRAS) LTD. - 532661 - Divestment / Disposal Of Subsidiary - Update
We hereby inform that Company has executed Share Purchase Agreement with Kentucky Industrial Holdings, Inc., (KIH) (Purchaser) on September 06, 2023 to transfer its entire holdings in the M/s. Rane Light Metal Castings inc., USA (LMCA) in favour of KIH.
Delhi Development Authority approves amendments to housing regulation; state guest house construction okayed
DDA also gave final approval for change of land use from recreational and residential to public and semi-public facilities of three plots under the ownership of RML Hospital. RANE (MADRAS) LTD. - 532661 - Divestment / Disposal Of Subsidiary - Update
This is regarding the divestment/disposal of wholly owned step-down subsidiary of the Company i.e., M/s. Rane Light Metal Casting Inc., USA (LMCA) and the approval of the shareholders of the Company accorded vide postal ballot dated June 17, 2023 for sale/divestment/pledge/dilution/disposal or cessation of control of the Company in LMCA, being a material subsidiary. The Board at its meeting held on August 28, 2023 has now approved divestment by way of stock sale of entire holdings in LMCA held through its wholly owned subsidiary viz., Rane (Madras) International Holdings B.V., The Netherlands (RMIH). The Board of directors have authorized the Investment Committee to finalize the terms and conditions including the consideration, parties etc., in connection with the proposed divestment. RANE (MADRAS) LTD. - 532661 - Announcement under Regulation 30 (LODR)-Investor Presentation
We enclose herewith copy of the Earnings Presentation released on the quarterly unaudited financial results for the quarter ended June 30, 2023. This is also being made available on the investor information section of the website of the Company at the web-link https://ranegroup.com/investors/rane-madras-limited-2/.