Rane Holdings Approves ₹40 Crore Preferential Issue of Convertible Warrants to Promoter Group
Rane Holdings Limited has approved the preferential allotment of 3,38,030 convertible warrants to members of its promoter and promoter group, raising approximately ₹40 crore. The decision was approved by the Issue and Allotment Committee of the Board of Directors at its meeting held on July 30, 2026.
The preferential issue reflects the promoters’ continued confidence in the company’s long-term growth prospects and commitment to strengthening its capital base.
Key Details of the Warrant Issue
- Total Warrants Allotted: 3,38,030 convertible warrants
- Face Value: ₹10 per warrant
- Issue Price: ₹1,183.32 per warrant
- Total Issue Size: Approximately ₹40 crore
- Upfront Payment: ₹295.83 per warrant (25% of the issue price)
- Balance Payment: ₹887.49 per warrant (75%), payable upon conversion
- Conversion Period: Within 18 months from the date of allotment
- Conversion: Each warrant is convertible into one fully paid-up equity share of face value ₹10
Warrants Allotted to Promoter Group
The entire issue has been subscribed by members of the promoter group through a cash subscription.
| Allottee | Warrants Allotted |
|---|---|
| Ganesh L (jointly with Meenakshi Ganesh) | 1,69,015 |
| Harish Lakshman | 1,69,015 |
The allottees have paid the mandatory 25% upfront subscription amount, with the remaining consideration to be paid when they choose to convert the warrants into equity shares.
Strengthening the Capital Base
Upon conversion, the warrants will result in the issuance of 3,38,030 new equity shares, leading to an increase in the company’s paid-up equity capital. The proceeds are expected to support the company’s growth initiatives while reinforcing its financial position.