Raymond Limited’s Board of Directors has approved a significant fundraise of up to ₹214.71 crore through the issuance of 33,28,686 convertible warrants. These warrants will be issued on a preferential basis to Minerva Ventures Fund at an issue price of ₹645 per warrant. Each warrant entitles the holder to subscribe to one equity share of face value ₹10, with a conversion period of 18 months.
Raymond Approves Preferential Issue of Warrants
Raymond Limited announced today, September 8, 2026, that its Board of Directors has approved a plan to raise funds through the issuance of convertible warrants. This strategic move aims to bolster the company’s financial resources and support its growth initiatives. The decision was made during a board meeting that commenced at 3:30 p.m. and concluded at 3:55 p.m. on the same day.
Fundraising Details
The company plans to issue a total of 33,28,686 warrants for cash. The aggregate consideration for this issuance is expected to be up to ₹214.71 crore. The warrants will be offered at an issue price of ₹645 per warrant, which includes a premium of ₹635 per warrant. This preferential issuance will be made on a private placement basis to a single investor, Minerva Ventures Fund.
Key Terms of the Warrants
Each warrant carries the right for the holder to subscribe to one fully paid-up equity share of the company, with a face value of ₹10 each. The issue price for each share upon conversion will be ₹645, incorporating a significant premium. The conversion period for these warrants is set at a maximum of 18 months from the date of their allotment. The company has also outlined a forfeiture clause, stating that any unconverted warrants will lapse after 18 months, with the upfront consideration paid becoming forfeited.
Issuance Compliance
The issuance is being conducted in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and read in conjunction with the SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The preferential allotment is subject to necessary approvals from the company’s members and relevant statutory and regulatory authorities.
Disclosure Availability
This disclosure, along with detailed information, is also available on the company’s official website at https://www.raymond.in. Investors and stakeholders are encouraged to refer to the website for comprehensive details regarding this fundraising initiative.
Source: BSE
