02 Sep 07 Blue River Capital buys 10.2% stake in Rane Holdings
Blue River Capital, a Mumbai based private equity firm has bought a 10.22% stake in Rane Holdings Limited which is the holding company of the Rane group. Rane group is a leading Chennai based manufacturing group operating in the auto ancilliary space. Blue River Capital invested $4.7 million in Rane Holdings Limited for the 10.22% stake. Blue River Capital has bought the shares of Rane Holdings from the promoters of Rane Holdings at a price of Rs. 192 per share of face value of Rs. 10 each. This is a significant premium to the current market price of Rane Holdings which closed at around Rs. 155 on friday.
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