Rane Holdings further invests Rs 80.85 cr in ZF LIFETEC Rane Automotive India

Rane Holdings has approved further investment of Rs 80.85 crore in the joint venture with ZF Automotive JV US LLC, USA i.e., ZF LIFETEC Rane Automotive India (ZLRAI) by way of subscription to rights issue.

The funds will be utilized by ZLRAI towards its capex and operational expenditure requirements.

The Company's shareholding in ZLRAI will remain unchanged at 49% post-investment.