Raymond has informed that the Board of Directors of Raymond Limited (‘the Company’) at their meeting held today September 12, 2024, have approved to invest an amount up to Rs. 50 Crore in the form of Redeemable Preference Shares in one or more tranches in Ten X Realty Limited (“TXRL”), a step down wholly owned subsidiary of the Company. The terms and conditions of Redeemable Preference Shares would be mutually decided and agreed at the time of issue. The amount proposed for investment would be utilized for the purpose of execution of redevelopment project by TXRL. Details as required under Regulation 30 of Listing Regulations read with Circular no. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 are enclosed as Annexure A. The Board meeting commenced at 11:30 am and concluded at 11:45 am.
The above information is a part of company’s filings submitted to BSE.
