Rane Holdings Gets In-Principle Approval for Warrant Issue

Rane Holdings Ltd has received 'in-principle' approval from BSE and NSE for a preferential issue of 3,38,030 convertible warrants to promoters. This follows prior board and shareholder approvals. The warrants are convertible into equity shares at a price not less than Rs. 1183.32 each. The approval is conditional on compliance with SEBI regulations, including obtaining undertakings from allottees to prevent intra-day trading and ensuring strengthened internal controls. The company must also comply with post-allotment listing formalities within twenty days of allotment.