Rane (Madras) Limited — Important, 17-06-2025: Sale or disposal

Rane (Madras) Limited has announced the sale of approximately 3.48 acres of surplus land from its 4.5-acre parcel located on Velachery Main Road, Chennai. The buyer is Canopy Living LLP, a joint venture between Arihant Foundations & Housing Limited and Prestige Estates Projects Limited, with no promoter group affiliation. The sale is outside any scheme of arrangement and shareholder approval was obtained on May 29, 2025. Key commercial terms and agreement execution are yet to be finalized, so the sale consideration and completion date remain pending.