RANE HOLDINGS LTD. - Update - Completion Of Divestment Of Subsidiary And Acquisition

This is further to our aforementioned letters regarding the divestment of entire investment in Rane t4u Private Limited (Rt4u), a subsidiary of the Company, in exchange for allotment of equity shares in eTrans Solutions Private Limited (eTrans). On July 19, 2023, the Company has been allotted 8,62,505 (Eight lakhs Sixty two thousand five hundred and five) Equity Shares having face value of Rs. 10/- each of eTrans representing 11.94% of equity share capital of eTrans in exchange for sale of entire investment held in Rt4u to eTrans effective July 19, 2023. Consequently, Rt4u ceases to be a subsidiary effective July 19, 2023.