Blue River Capital acquires 10.22 pc stake in Rane Holdings

Chennai, Sep 3 (UNI) Mumbai-based private equity investment firm Blue River Capital has acquired through a secondary market transaction 10.22 per cent stake in Rane Holdings Limited.

A representative of Blue River Capital is expected to join the Board of Rane Holdings shortly, a company release said here today.

As announced earlier, the Rane Group was undertaking a restructuring exercise to consolidate the shareholding in all the group companies through the holding company Rane Holdings Limited, which could be the vehicle for raising capital for the Group's new ventures in the future.

Ernst and Young were advising the Group on the proposed restructuring scheme, the release added.

UNI