Kolkata, New Delhi, INDIA. New York, USA.
Business To Business, Mumbai, 01st July, 2026: Auto component manufacturer Rane (Madras) Ltd (RML), a part of the Rane Group, on Tuesday announced that it has entered into an agreement with Hindustan Composites Ltd to acquire its friction business for an enterprise value of Rs 370 crore.
As part of the transaction, RML will also acquire the "COMPO" brand, a move the company said will strengthen its leadership position by expanding its presence across multiple customer segments, including distributors, fleet operators and the aftermarket.
The acquisition is subject to the terms of the agreement, customary regulatory approvals and other closing conditions.
According to the Chennai-based company, the transaction is expected to be completed by the end of the second quarter of the current financial year.