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Raymond gets nod to invest amount up to Rs 301 crore in Ten X Realty

04 Oct 2023 Evaluate

Raymond has received approval to invest an amount up to Rs 301 crore in one or more tranches in Ten X Realty (TXRL), a step down wholly owned subsidiary of the company.  Out of the said investment, the company will invest up to Rs 125 crore in the form of Redeemable Preference Shares which would be subject to such terms as may be finally decided and agreed. Balance amount of Rs 176 crore will be invested by providing Inter Corporate Deposit (ICD) to TXRL. 

Investment in Redeemable Preference Shares of TXRL is being approved to provide funding for real estate project undertaken by TXRL. The Board of Directors of the company at their meeting held on October 3, 2023, has approved the same.

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.

Raymond Share Price

422.05 0.55 (0.13%)
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