Please find attached notice of Extraordinary General Meeting to be held on June 18, 2026
RAYMOND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Raymond Ltd has called an EGM on June 18, 2026, through video conferencing to seek shareholder approval for a preferential issue of up to 66,57,373 warrants to JK Investors (Bombay) Limited, a promoter group entity. Each warrant priced at Rs. 497 can be converted into one equity share of face value Rs. 10 within 18 months of allotment. Investors must pay 25% (Rs. 124.25) upfront and remaining 75% (Rs. 372.75) upon exercise. The floor price of Rs. 497 was determined based on the relevant date of May 19, 2026. If warrant holders do not exercise within 18 months, the amount paid shall be forfeited. The resultant equity shares will rank pari passu with existing shares.
This preferential issue to the promoter group will dilute existing shareholders' stake once warrants are converted into equity shares. It signals promoter confidence in the company but may cause near-term EPS dilution. Shareholders should vote considering the Rs. 497 issue price versus current market price.