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.
What happened
Raymond's board approved issuing 66.57 lakh convertible warrants at ₹497 each to promoter group entity JK Investors, raising ₹331 crore via preferential
Key facts
- ₹330.88 crore
- 66.57 lakh warrants
- ₹497 per warrant
- 36.21% promoter stake
- Q4 revenue ₹603 crore
- EBITDA ₹75.7 crore
Why this matters
Preferential warrant route to promoters at a fixed strike pre-demerger sets a clean precedent for funding restructurings without ceding control—useful template for promoter-led groups eyeing vertical splits.