Board Meeting8 Sept 2026, 04:40 pm
Raymond Ltd Approves Fundraise via Preferential Issue of Warrants
AI Summary
Raymond Ltd's Board of Directors has approved a fundraise of up to ₹214.71 Crore through the preferential issue of 33,28,686 convertible warrants to Minerva Ventures Fund. Each warrant is priced at ₹645 and can be converted into one equity share of face value ₹10 within 18 months. The issuance is subject to shareholder and regulatory approvals. The upfront consideration for unconverted warrants will be forfeited upon expiry.
Key Highlights
- Board approves fundraise of up to ₹214.71 Crore.
- Issuance of 33,28,686 convertible warrants via preferential allotment.
- Warrants priced at ₹645 each, convertible to equity shares.
- Conversion period is a maximum of 18 months.
- Fundraise subject to shareholder and regulatory approvals.
Price Impact
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