Hot Pursuit     21-Jun-23
Raymond board OKs raising Rs 1,100 cr via NCDs
Raymond said that the board approved allotment of non-convertible debentures (NCDs) for Rs 1,100 crore on private placement basis to its associate company, Raymond Consumer Care.
The deemed date of allotment is on 22 June 2023. The NCDs have a coupon rate of 8.75% p.a. and has tenure of 730 days.

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.

The company reported 26.19% decline in consolidated net profit to Rs 194.35 crore in Q4 FY23 as against Rs 263.31 crore in Q4 FY22. However, net revenue from operations increased 9.81% YoY to Rs 2,150.18 crore in the quarter ended 31 March 2023.

The scrip fell 0.87% to end at Rs 1,731.10 on the BSE.

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