RANE ENGINE VALVE LTD. - 532988 - Announcement under Regulation 30 (LODR)-Allotment
The finance committee of the board of directors of the Company 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.27-06-2023