Raymond Realty to raise about 409 Cr via warrants to promoter group
RAYMONDREL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.6 pts more than Nifty Microcap 250 and 2.1 pts more than its Residential Commercial Projects peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Raymond Realty board approved raising about Rs 409 crores through 66,57,373 convertible warrants at Rs 614 each (premium Rs 604) to J K Investors (Bombay) Ltd, a promoter group entity. Each warrant converts to 1 equity share within 18 months. On full conversion, promoter holding rises from 29.83 percent to 35.99 percent. Authorized share capital hiked from Rs 70 cr to Rs 75 cr. Needs shareholder approval.
Promoter-led capital infusion signals confidence, but conversion of warrants will dilute existing public shareholders by over 6 percent.