Raymond Ltd Receives In-Principle Approval from NSE and BSE for Preferential Issue
Raymond Ltd has received in-principle approval from both the National Stock Exchange of India Limited (NSE) and BSE Limited regarding its preferential issue of securities on a private placement basis.The company confirmed that the two exchanges granted their in-principle approval for the issuance of 66,57,373 convertible warrants, which is part of the ongoing capital raising efforts.
These warrants are structured to be converted into equity shares at a designated price point. The issue involves a total of 66,57,373 convertible warrants and corresponds to the equivalent number of equity shares of Rs.10/- each at a price not less than Rs.497/- each.
The key details regarding this preferential issuance are as follows:
| Feature | Details |
|---|---|
| Issue Type | Preferential Issue of Convertible Warrants |
| Quantity of Warrants | 66,57,373 |
| Conversion Ratio | 1 warrant convertible into 1 equity share |
| Equity Share Value (upon conversion) | Rs.10/- each |
| Minimum Conversion Price | Not less than Rs.497/- each |
The approval granted by the National Stock Exchange of India Limited and BSE Limited allows Raymond Ltd to proceed with the specified issue, marking a significant step in its capital structure updates.
RAYMOND Stock Price Movement
Raymond Limited shares slipped today, closing at ₹610.35 after shedding 1.90% in post-market trading. The equity saw a total traded volume of 491,328 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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