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Rane Brake to allot shares to collaborator

CHENNAI: Rane Brake Lining will issue seven lakh equity shares of Rs.10 each at a premium of Rs. 40 a share to its collaborator Nisshinbo Industries of Japan. In a notification to the Bombay Stock Exchange, the company said it had called for an extra-ordinary general meeting on March 30 to get the approval of the shareholders for the preferential share allotment to the Japanese collaborator. — Special Correspondent

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