Raymond Limited has informed the Exchange regarding 'Pursuant to Regulation 30 read with Schedule III of Listing Regulations, this is to inform that consequent upon amalgamation of engineering business of JK Files and Engineering Limited and amalgamation of Ring Plus Aqua Limited with JK Maini Precision Technology Limited under a composite scheme of arrangement, the Credit Rating(s) assigned for various credit facilities availed by the said subsidiaries of the Company has been withdrawn by CARE Ratings Limited. Copies of withdrawal letter(s) dated December 30, 2025, are enclosed.'.
RAYMOND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
CARE Ratings has withdrawn the credit ratings assigned to Raymond's subsidiaries — JK Files and Engineering Limited and Ring Plus Aqua Limited. This follows the amalgamation of their engineering businesses into JK Maini Precision Technology Limited under a composite scheme of arrangement. The withdrawal letters are dated December 30, 2025. The action is procedural and linked to the corporate restructuring rather than any credit deterioration.
No negative impact on shareholders — the rating withdrawal is a routine step triggered by the merger of these subsidiaries into another entity. Investors should monitor the combined entity's future rating actions if any fresh borrowings are undertaken.