Rane Holdings to merge IoT unit for 12% stake in vehicle tracking firm eTrans

Publicly listed Rane Holdings is to swap its entire stake in its Bangalore-based subsidiary Rane t4u Pvt Ltd, focused on IoT solutions, for a 11.94% stake (valued at INR 8.5 Cr) in eTrans Solutions Pvt Ltd. Rane t4u had reported sales of INR 7.69 Cr for FY23. Founded in 2000, Kolkata-based eTrans is in the business of providing vehicle tracking solutions to major corporate shippers and transporters.