Raymond Ltd to Raise ~₹214.71 Cr via Preferential Issue of Warrants

Raymond Ltd's Board of Directors has approved raising up to approximately ₹214.71 Crore through a preferential issue of 33,28,686 convertible warrants to Minerva Ventures Fund. Each warrant is priced at ₹645, with a premium of ₹635, and carries the right to subscribe to one equity share of face value ₹10. The warrants can be converted into equity shares within 18 months from allotment. Unconverted warrants will lapse, and the upfront consideration will be forfeited. The issuance is subject to shareholder and regulatory approvals.