Raymond has received approval for the issuance of Non-Convertible Debentures (NCDs) of Rs 100 crore on private placement basis. The Committee of Board of Directors of the Company at its meeting held on September 24, 2020 has approved the same.
The NCDs, which would have a coupon rate of 8.60 percent, would be listed on the National Stock Exchange of India. Tenure of the instruments would be 1,095 days from the deemed date of allotment, which is September 29, 2020.
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.