Raymond Realty Plans ₹409 Cr Preferential Issue of Warrants

Raymond Realty Limited announced its Board of Directors has approved a preferential issue of 66,57,373 convertible warrants to J K Investors (Bombay) Limited, a promoter group entity. The issue price is ₹614 per warrant, aggregating up to approximately ₹409 Crores. Each warrant is convertible into one equity share of face value ₹10. The company also approved an increase in authorized share capital to accommodate this issuance. The transaction is subject to shareholder and regulatory approvals. The warrants have a conversion period of 18 months, with upfront consideration forfeited if not converted.