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History of Rane Holdings Ltd.

YEAR EVENTS 1929 - The Comp. was Incorporated at Chennai. The Company object is to manufacture Quintol Hazell-Rane tie rod ends, Ehrenreich Steering linkages, Don-Flex clutch discs & steering gears.

1956 - Authorised capital increased. 45,960 Bonus equity shares issued in the prop. 1:1.

1957 - 91,920 Right Equity shares at par in the prop. 1:1.

1960 - 61,280 Right equity shares issued at par in the prop. 1:3.

1964 - 65,000 Right `A' pref. shares & 1,22,560 Right equity shares issued at par in 1964-65.

1966 - In July, 1,22,500 Bonus equity shares issued in the prop. 1:3

1968 - Authorised capital increased. In November, 2,45,120 Bonus equity shares issued in the prop. 1:2.

1971 - 3,67,680 bonus equity shares issued in the prop. 1:2.

1975 - Commercial Production of steering gears in technical collaboration with M/s. Burman and Sons, Ltd., of U.K. commenced on 20th February.

1978 - The Company collaboration agreement with Automotive Products, Ltd., U.K. for manufacture of gearless type of rod ends was approved by Government.

1979 - 5,51,520 Rights equity shares issued at par in prop. 1:2. Allotted 1,40,000 shares in conversion of loans & 70,000 shares as Rights entitlement to ICICI.

1981 - The Comp. undertook to set up a project in Mysore for the manufacture of 40,000 steering gears per annum.

1985 - The Comp. entered into a technical aid agreement with TRW Ehrenreich. The agreement was expected to enable the Comp. to upgrade its range of products & manufacturing technology and ensure an easier entry into the new OEM markets.

1986 - 9,32,280 Bonus equity shares issued in prop. 1:2 in February 1982. Pref. shares redeemed on 30.9.1982. All shares then classified as equity & consolidated on 1.10.1982.

- 6,99,210 bonus shares issued in prop. 1:2.

1987 - `Rane Power Steering Ltd.' was incorporated as a wholly owned subsidiary of Comp. to implement fully integrated power steering project.

1990 - Rane Power Steering Ltd., ceased to be a subsidiary of Company.

1994 - 20,97,630 Bonus equity shares issued in prop. 1:1.

2003

-Rane Engine Valves Ltd [acquirers] acquires 25,000 shares amounting 0.60% of Rane [Madrass] Ltd