Raymond surges on planning to raise funds through NCDs
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Raymond is currently trading at Rs. 1595.00, up by 19.50 points or 1.24% from its previous closing of Rs. 1575.50 on the BSE.
The scrip opened at Rs. 1589.80 and has touched a high and low of Rs. 1609.65 and Rs. 1569.85 respectively. So far 3203 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1755.35 on 27-Apr-2023 and a 52 week low of Rs. 738.95 on 12-May-2022.
Last one week high and low of the scrip stood at Rs. 1622.50 and Rs. 1555.00 respectively. The current market cap of the company is Rs. 10600.54 crore.
The promoters holding in the company stood at 49.15%, while Institutions and Non-Institutions held 21.82% and 29.03% respectively.
Raymond is planning to raise up to an amount not exceeding Rs 2,200 crore through Non-Convertible Debentures (NCDs) in two or more tranches on a private placement basis for repayment of external debt, to such associate company of the Company, as the Board may determine, subject to receipt of necessary approvals required under applicable law. The Board of Directors of Raymond at its meeting scheduled to be held on May 9, 2023, will consider the same.
Raymond is one of India’s largest branded fabric and fashion retailers. It is one of the leading, integrated producers of suiting fabric in the world.
