RAYMOND: BOARD APPROVES FUNDRAISE VIA PREFERENTIAL ISSUE OF CONVERTIBLE WARRANTS

• Board of Directors approved raising of funds through issuance of 33,28,686 convertible warrants for cash. • Warrants to be issued at ₹645/- per warrant (including a premium of ₹635/-), aggregating up to ~₹214.71 Crore. • The issue is a preferential allotment on a private placement basis to Minerva Ventures Fund. • Each warrant carries a right to subscribe to one equity share at ₹645/- per share. • Warrants may be converted within 18 months from the date of allotment. • Unconverted warrants will lapse and upfront consideration shall be forfeited.

Raymond Limited

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