Raymond approves Rs 214.71 crore issue of convertible warrants

Fund Raising View source PDF Explain this filing

RAYMOND · price

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Price reactionminutes from the announcement price · days from the prior close

-5.3%Reaction day

₹856.85

prior close

₹834.50

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.2%-5.1% vs market

Industrial Products peers, median of 132sector+0.5%-5.8% vs sector

On the reaction day the stock moved 5.1 pts less than Nifty Microcap 250 and 5.8 pts less than its Industrial Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-3.5

10m

-3.8

15m

-4.5

30m

-5.7

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-5.3-0.2-5.1+0.5-5.8

Next day

-0.8-0.3-0.5-0.2-0.7

+17.1-0.2+17.3-0.4+17.5

+16.0-3.5+19.5-2.4+18.5

+16.5-3.6+20.1-3.0+19.5

+13.7-2.8+16.6-1.8+15.5

+28.7-1.4+30.1-1.4+30.1

15d

+39.5-3.0+42.5-3.1+42.6

+38.2-4.4+42.6-2.8+41.0

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UpDownMarket · Nifty Microcap 250Sector · Industrial Products peers, median of 132Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Raymond's board approved raising up to Rs 214.71 crore through 33,28,686 convertible warrants for Minerva Ventures Fund at Rs 645 each, including a Rs 635 premium. Each warrant can be converted into one equity share within 18 months; unconverted warrants will lapse and the upfront amount will be forfeited. Shareholder and regulatory approvals are required. The filing estimates Minerva's holding at 4.35 percent on a fully diluted basis.

Likely market impact

Not yet completed. It may add cash, but conversion would increase the share count and dilute existing holders; pending approvals may affect sentiment.