Raymond Realty to raise ~₹409 Cr via Convertible Warrants

Raymond Realty Limited's 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 conversion must occur within 18 months, and failure to convert will result in forfeiture of the upfront consideration. This issuance is subject to shareholder and regulatory approvals.