MoneyWorks4Me

Raymond has incorporated a step-down subsidiary -- Ten X Realty (TXRL) with an object to carry on real estate business for the development of land and properties at Thane, Maharashtra. In order to fund and capitalize TXRL, the Board of Directors of the Raymond at its meeting held on December 28, 2021 approved and passed an enabling resolution to infuse the funds up to Rs 150 crore in more than one tranches over a period of time.

Out of the said investment, the company will invest up to Rs 75 crore in the form of Redeemable Preference Shares which would be subject such terms as may be finally decided and agreed. The investment would be in form of equity, preference shares, debentures or others.

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.

Peers
Company Name CMP
Bharat Heavy Elect. 427.60
Thermax 3231.40
Kirloskar Industries 3466.45
Skipper 539.95
INDO-MIM 1318.45
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