Raymond has received approval from Board of Directors to invest an amount up to Rs 65 crore in the form of Redeemable Preference Shares in one or more tranches in Ten X Realty East (TXREL), 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 TXREL.
The Board of Directors of Raymond at their meeting held on March 22, 2025, have 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.
