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//Online Submission// li
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This is to inform that the Strategy and lnvestment Committee of the Board of Directors of the
Company, had at their meeting held on March 9,2017, inter-alia, approved the setting up of
a Wholly Owned Subsidiary OVOS) in Germany under the name and style of
lUl/s. Rane Holdings Europe GmbH WOS) through acquistion of 100o/o equity shares of a
newly incorporated company for this purpose. The details pursuant to Regulation 30 of SEBI
LODR read with SEBI Circular No. CIRI/CFD/CMDI4|2O15 dated September 9, 2015 are
enclosed as Annexure A.
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The Strategy and lnvestment Committee of the Board of Directors reviews strategic
investment proposals of the Company.
We request you to take the above on record under the aforementioned regulations of SEBI
LODR and acknowledge receipt.
Thanking you.
Yours faithfully
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Encl. a/a.
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Annexure- A
Particulars Details
a) name of the target entity, details in brief such M/s. Rane Holdings Europe GmbH
as size. turnover etc. (Proposed name )
e) bricf details of any governmental or regulatory lnvestment will be under the Automatlc I
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g) nature of consideration - whether cash Cash investment in equity shares of the
on$ideration or share svvap and details of the WOS
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h) cost of acquisition or the price at which the Estimated cost of investment in equity of :::
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