Comments
Rane Holdings has decided to take a 70 per cent stake in Benguluru-based Telematics4U Services Pvt Ltd. Rane Holdings informed the BSE that the acquisition of T4U will enable it to enhance its capability in connectivity which is a “mega trend influencing transportation sector”. Rane will pay ₹1.17 crore for the 70 per cent equity stake by subscribing to a fresh issue of shares and purchase from existing shareholder. It will also invest ₹27 crore over the next two years to scale up operations. T4U will benefit from the growing demand for improved fleet efficiency, vehicle diagnostics and IoT-based solutions.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.