In Short:
The Competition Commission of India has approved Rane Holdings’ purchase of the remaining 51% stake from NSK Ltd in Rane NSK Steering Systems Pvt Ltd for ₹45 crore. Post-acquisition, RNSS will become fully owned by Rane Holdings and will be renamed Rane Steering Systems Pvt Ltd. The company will keep its existing technology agreements with NSK. Other approvals include transactions involving Utkarsh CoreInvest and Actis Holdings.
CCI Greenlights Rane Holdings’ Major Acquisition
In a significant move, the **Competition Commission of India (CCI)** announced on Tuesday that it has given its stamp of approval for **Rane Holdings’** acquisition of the remaining **51 percent stake** from its joint venture partner, the Japan-based **NSK Ltd**, in **Rane NSK Steering Systems Pvt Ltd (RNSS)**.
In a tweet from their official account on **X** (previously known as Twitter), the CCI stated, “Commission approves the proposed acquisition for the balance 51 percent shareholding by Rane Holdings Limited in Rane NSK Steering Systems Private Limited.”
Financial Details of the Acquisition
This strategic move will see Rane Holdings parting with approximately **₹45 crore**, which will be paid in cash to NSK in exchange for **91.29 lakh shares** priced at **₹10 each** of RNSS.
What Comes Next?
After this acquisition is complete, RNSS will officially transform into a wholly-owned subsidiary of **Rane Holdings Ltd**, rebranding as **Rane Steering Systems Private Ltd (RSSL)**. However, despite this shift in ownership, the company will retain its current technology licenses and supply agreements with **NSK Steering & Control, Inc**, as highlighted in a statement from Rane Holdings dated July 1.
Other Recent CCI Approvals
In addition to the Rane acquisition, the CCI has also approved various other significant transactions. This includes the shareholding acquisition in **Utkarsh CoreInvest Limited** by **Citrine Inclusion Limited**. Furthermore, it has sanctioned the additional acquisition of unitholding by **2452991 Ontario Limited** in the **Highway Infrastructure Trust**.
Lastly, the CCI has given the green light for the proposed acquisition involving the transfer of **100 percent shareholding** of **Actis Holdings S.à r.l.** to **GAP Arthur Holdco, L.P.**
