Announced Tue, 7 Jul · 16:59 IST
Raymond gets NSE/BSE approval for 66.57 lakh warrants to promoter
Fund Raising View source PDF
RAYMOND · price
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Price reaction · full curve 14 horizons · vs prior close
+2.1%1-day move
₹611.00
prior close
₹607.00
base price
After-mkt
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AI summary
Raymond Limited has received in-principle approval from both BSE and NSE for issuing 66,57,373 convertible warrants to the promoter on a private placement basis. Each warrant is convertible into one equity share of Rs. 10 face value at a price of not less than Rs. 497. The company must now complete allotment and file a listing application within 20 days, along with compliance with SEBI ICDR rules.
Likely market impact
Promoter stake will rise once warrants are converted, leading to potential dilution for existing shareholders.