2 days ago
Raymond Plans ₹214.71 Crore Preferential Fundraise
Raymond wants to raise money by selling special investment warrants.
The company plans to issue more than 33 lakh warrants.
Minerva Ventures Fund is expected to receive them.
Each warrant will cost ₹645.
Each warrant can later be used to buy one Raymond share at the same price.
The planned fundraising could bring Raymond up to ₹214.71 crore.
Raymond’s board approved the proposal on September 8.
Shareholders and regulators must still approve it before it can proceed.
Raymond will raise up to ₹214.71 crore through a preferential issue.
The company plans to issue 33,28,686 convertible warrants.
Minerva Ventures Fund will receive the warrants under the proposed issue.
Each warrant is priced at ₹645 and carries the right to subscribe to one equity share.
The fundraise, approved by the board on September 8, requires shareholder and regulatory approvals.
- Who
- Raymond and Minerva Ventures Fund.
- What
- Raymond plans to raise up to ₹214.71 crore through a preferential issue of convertible warrants.
- Where
- The article does not specify a location.
- When
- The proposal was approved by Raymond’s board on September 8 and disclosed in a regulatory filing on Tuesday.
- Why
- To raise funds through the proposed preferential issue.
Key facts
- Company
- Raymond
- Fundraising amount
- Up to ₹214.71 crore
- Instrument
- Convertible warrants
- Number of warrants
- 33,28,686
- Warrant price
- ₹645 each
- Proposed investor
- Minerva Ventures Fund
- Pending approvals
- Shareholder and regulatory approvals
Sources
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