Rane Group announces merger of Rane Brake Lining Ltd. and Rane Engine Valve Ltd. into Rane
According to the group, the merger move has been decided to create a unified platform to drive future growth
Top Indian automotive supplier Rane Group has decided to merge two of its listed companies – Rane Brake Lining and Rane Engine Valve — with its other listed company, Rane (Madras). The proposed reorganisation will bring all operating business subsidiaries under one single company, and it will create a larger company with a combined turnover of rupees 33.73 billion for the trailing 12 months period ended December 31, 2023 (January-December 2023) on a proforma basis, business daily the Hindu Businessline reported on Feb.9. The merger move has been decided to create a unified platform to drive future growth, said the company.
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