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The Board of Directors of Rane (Madras) in its meeting held on 21 March 2014 have taken on record the scheme of amalgation of Rane Diecast with the Rane (Madras) as sanctioned by the Hon'ble High Court of Madras vide order dated 18 February 2014, under section 391-394 of the Companies Act, 1956.
Pursurant to the provision of the scheme, the Board of the Company has allotted shares 3,46,504 equity shares of Rs 10 each fully paid-up and 82,32,164, 6.47% cumulative preference shares of Rs 10 each fully paid-up to Rane Holdings.
The listing application would be filed shortly for listing the newly allotted 3,46,504 equity shares of Rs 10 each.
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