Rane Holdings has received approval for divestment of entire 48.97% equity shareholding held by the company in JMA Rane Marketing (JMA Rane), a Joint Venture (JV) company. This divestment is subject to negotiating and concluding the terms, execution of definitive agreement and completion of customary closing conditions. The Board of Directors of the company at their meeting held on October 29, 2018, approved the same.
Rane Holdings is the holding company of Rane Group. RHL owns the trademark in Rane and provides a range of services to group companies. These include employee training and development, investor services, business development & information systems support.