Sunday , October 17 2021

Rane Holdings gains on hiking stake in Rane t4u

Rane Holdings is currently trading at Rs. 610.00, up by 10.50 points or 1.75% from its previous closing of Rs. 599.50 on the BSE.

The scrip opened at Rs. 609.90 and has touched a high and low of Rs. 610.70 and Rs. 600.70 respectively. So far 1031 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 782.45 on 26-Jul-2021 and a 52 week low of Rs. 392.05 on 04-Nov-2020.

Last one week high and low of the scrip stood at Rs. 632.45 and Rs. 597.10 respectively. The current market cap of the company is Rs. 855.95 crore.

The promoters holding in the company stood at 46.40%, while Institutions and Non-Institutions held 10.67% and 42.93% respectively.

Rane Holdings has further acquired 83,35,000 equity shares of Rs 10 each fully paid up (12.72%) in its subsidiary Rane t4u (RT4U), pursuant to subscription to the rights issue made by RT4U for Rs 8,33,50,000. The aggregate equity shareholding of RHL in RT4U post this acquisition stands increased to 97.46% (99.33% on a fully diluted basis).

RT4U is a subsidiary of the Company, which offers customized analytics-rich end-to-end telematics/connected mobility solutions for various transportation and asset tracking requirements in India and other countries across South Asia, Middle East and Africa. Acquisition of further shareholding by subscribing to the Rights Issue made by RT4U to meet its working capital requirements and to improve its debt equity position.

Rane Holdings is the holding company of the Rane Group.

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