Raymond Ltd Gets In-Principle Approval for Preferential Issue

Raymond Ltd has received in-principle approval from both BSE Limited and the National Stock Exchange of India Limited for its preferential issue of 66,57,373 convertible warrants. These warrants are convertible into equity shares at a price not less than ₹497 per share, primarily to promoters. The exchanges have granted this approval subject to strict compliance with various SEBI regulations, including the ICDR and LODR Regulations. Raymond is advised to strengthen internal controls and obtain undertakings from allottees to prevent non-compliance, particularly regarding intra-day trading and pre-allotment sales. Failure to comply may impact the listing of the shares.