Raymond gains on getting nod to invest up to Rs 65 crore in Ten X Realty East
Raymond is currently trading at Rs 1498.85, up by 17.85 points or 1.21% from its previous closing of Rs 1481.00 on the BSE.
The scrip opened at Rs 1484.95 and has touched a high and low of Rs 1536.00 and Rs 1481.20 respectively. So far 11308 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 10 has touched a 52-week high of Rs 3493.00 on 08-Jul-2024 and a 52-week low of Rs 1215.60 on 17-Mar-2025.
Last one week high and low of the scrip stood at Rs 1564.80 and Rs 1215.60 respectively. The current market cap of the company is Rs 9893.19 crore.
The promoters holding in the company stood at 48.87%, while Institutions and Non-Institutions held 22.58% and 28.55% respectively.
Raymond has received approval from Board of Directors to invest an amount up to Rs 65 crore in the form of Redeemable Preference Shares in one or more tranches in Ten X Realty East (TXREL), a step down wholly owned subsidiary of the Company.
The terms and conditions of Redeemable Preference Shares would be mutually decided and agreed at the time of issue. The amount proposed for investment would be utilized for the purpose of execution of redevelopment project by TXREL.
The Board of Directors of Raymond at their meeting held on March 22, 2025, have approved 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.
