Buyback of the shares of Rane Brake Lining Limited (Scrip code: 532987)

• Notice No: 20201026-7
• Notice Date: 26 Oct 2020
• Category: Company related
• Segment: Equity

1.       Trading Members are hereby informed that Rane Brake Lining Limited (Scrip code: 532987) has announced buyback of its fully paid-up equity shares of face value of Rs. 10/- each from the Open Market through electronic trading mechanism of the Exchange. The Maximum Buyback Price would not exceed Rs. 825/- (Rupees Eight hundred Twenty-Five only) per equity share payable in cash for an aggregate amount not exceeding Rs. 22 crores (Rupees Twenty-two crore only).

2.       Proposed time table for buyback:

Date of Opening of the Buyback on BOLT

October 27, 2020

Last Date for the Buyback

Earliest of: (a)    April 26, 2021 (that is 6 months from the date of the opening of the Buyback); or (b)    when the Company completes the Buyback by deploying the amount equivalent to the Maximum Buyback Size; or (c)     at such earlier date as may be determined by the Board or the Buyback Committee, after giving notice of such earlier closure, subject to the Company having deployed an amount equivalent to the Minimum Buyback Size (even if the Maximum Buyback Size has not been reached or the Maximum Buyback Shares have not been bought back), however, that all payment obligations relating to the Buyback shall be completed before the last date for the Buyback.

3.       Broker Members for buyback:

The company has appointed the following BSE Trading Members through whom the purchases and settlement on account of the buyback would be made:

Name of the Member	Clearing No
Ambit Capital Private Limited	3081

4.       Details of Shares held in DEMAT Form.

The Trading Members may note that the Equity Shares held in DEMAT form can be offered for Buyback to the Company in rolling settlement, as per details mentioned below:

Scrip Code                                                           : 532987

Market Lot                                                          : 1 Share

Scrip ID on BOLT System                                   : RBL*

5.       Circuit Filters, Margins, Capital Adequacy Norms, Auction, Close out, Arbitration, etc. are applicable in case of buyback as in the case of the normal trading.

6.       Institutional Investors are allowed to participate in the buyback.

7.    Please note that, settlement will be with normal equity cash segment trades and market type for delivery will be “Normal” equity cash segment.

8.       The documents are available in Department of Corporate Services for inspection. In case of any queries /clarifications on the scheme of buyback, Trading Members may please contact the under mentioned persons:

• Merchant Banker to the Buyback:

Ambit Private Limited

Ambit House,

449, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013

Tel: [phone]

Fax: [phone]

Contact Person: Mr. Praveen Sangal

Email: [e-mail]

Website: www.ambit.co

SEBI Registration Number: INM000010585

Corporate Identity Number: U65923MH1997PTC109992

• At the Company:

               Name: Venkatraman

Designation: Company Secretary and Compliance Officer

Rane Brake Lining Limited

Maithri, 132, Cathedral Road, Chennai, Tamil Nadu, 600086

Tel: [phone]

Email: [e-mail]

Website: www.ranegroup.com

·         At the Exchange:

Clearing & Settlement Department -

Mr. Nilesh Shah/Ajay Darji - Extn: 022-22728468/5163/5628/8223/5784 

Email Id: [e-mail] 

Trading Department -

Trading Operations - Extn: 022-2272- 8436 (For Trading Related)

Help desk - Extn: 61363100 (Hunting) (For BOLT System)

Listing Operations Department –

Mr. Raghavendra Bhat - Extn: 022-2272-8915 (For General Queries)

Rupal Khandelwal

Senior Manager

October 26, 2020