Raymond board clears ₹331 cr warrant issue to promoters, lifting stake to 36.21%
Raymond will issue 66.57 lakh convertible warrants at ₹497 each to promoter entity JK Investors via preferential allotment, raising ₹330.88 crore. The infusion lifts promoter stake to 36.21% on a fully diluted basis, signalling promoter conviction as the group navigates its lifestyle and realty demerger.
Raymond's board approved issuing 66.57 lakh convertible warrants at ₹497 each to promoter group entity JK Investors, raising ₹331 crore via preferential allotment, lifting promoter stake to 36.21% on fully diluted basis.