Hot Pursuit     05-May-23
Raymond board to mull fund raising
The company's board will consider raising upto Rs 2200 crore through issue of non-convertible debentures on Tuesday, 9 May 2023.
The fund will be raised in two or more tranches on a private placement basis. The funds will be utilised for repayment of external debt, to such associate company of the company, as the board may determine.

The board will also consider Q4 results and recommend dividend on the same day.

Raymond is a leading manufacturer of worsted suiting fabrics and garments in India. It also has a presence in precision engineering products and real estate. In Q3 FY23, the company's net profit decreased by 5% to Rs 94.84 crore while net revenue from operations increased by 17.62% YoY to Rs 2168.16 crore.

Shares of Raymond fell 0.58% to Rs 1575.50 on Thursday, 4 May 2023.

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