Rane Holdings Limited secured shareholder approval to issue warrants on a preferential basis during its Extraordinary General Meeting (EGM) held on June 12, 2026. The special resolution received 96.59% of votes in favour, with 82,17,785 votes supporting the proposal out of 85,07,764 total valid votes polled. The meeting was conducted through video conferencing to comply with regulatory requirements.

The EGM, chaired by Mr. L Ganesh, Chairman & Managing Director, was convened to seek approval for the preferential allotment. The statutory registers and necessary documents were made available for inspection until the conclusion of the meeting. The proceedings were conducted in compliance with the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Remote e-voting for the resolution commenced on June 09, 2026, and concluded on June 11, 2026. Shareholders who did not participate in remote e-voting were permitted to cast their votes during the EGM. The e-voting facility remained open for 15 minutes following the conclusion of the meeting. The total number of valid votes received was 85,07,764, comprising 84,91,399 votes through remote e-voting and 16,365 votes during the EGM.

Voting Results

The resolution was passed with the requisite majority. Promoters and the promoter group cast 60,20,196 votes in favour, representing 100% of their polled votes. Public institutions and non-institutions also participated, with 96.59% of the total votes polled favouring the resolution.

M/s. A K JAIN & ASSOCIATES, Practising Company Secretaries, were appointed as the scrutinizer to oversee the e-voting process. The report of the scrutinizer was declared and disclosed to the stock exchanges and uploaded on the company's website. The meeting concluded at 15:21 hrs.

Rane Holdings Limited announced that its wholly owned subsidiary, Rane Steering Systems Private Limited, has acquired a 26% equity stake in Hexa Energy BH Eleven Private Limited for ₹0.78 crore. The strategic move aims to secure renewable energy for the subsidiary's manufacturing plant located in Bawal, Haryana. The transaction, finalized on June 10, 2026, involves a cash consideration and is not classified as a related party transaction.

Acquisition Details

Rane Steering Systems entered into a Share Subscription and Shareholders' Agreement with Hexa Energy, a company incorporated on February 24, 2026. The primary objective of the acquisition is to comply with regulatory requirements for captive power consumption under Indian electricity laws. Alongside the equity purchase, the subsidiary signed a Power Purchase Agreement to procure solar energy.

Target Entity Profile

Hexa Energy BH Eleven Private Limited operates in the Renewable Energy – Solar Power Sector. The company is engaged in the generation, transmission, and distribution of electricity through renewable sources. As of March 31, 2026, the target entity reported no turnover, profit after tax, or net worth.

Financial Overview of Hexa Energy (Rs. in crores)

Transaction Structure

The acquisition cost is set at ₹0.78 crore for a 26% shareholding in the paid-up capital of Hexa Energy. The promoters and promoter group of Rane Holdings have no interest in the entity being acquired. The deal is structured as a cash transaction and is expected to be completed within 30 days from the date of signing the Power Purchase Agreement. No specific governmental or regulatory approvals were required for this acquisition.