Raymond Ltd plans to raise funds via NCDs this week

Fabric manufacturer, Raymond Ltd, announced that the company is planning to raise funds via NCDs this week.

The company via an exchange filing made on May 18, 2020 after the market hours, informed that a meeting of its board of directors is scheduled to take place on May 21, 2020 to consider and approve the issue of non-convertible debentures (NCDs), aggregating to an amount, not exceeding Rs 100 crore on private placement basis.  

Adding to this, the company said that the above-mentioned NCDs are proposed to be listed on National Stock Exchange’s WDM segment.  

Incorporated in the year 1925, Raymond Group, the parent organisation of Raymond Ltd, soon transformed itself from being an Indian textile major to a global conglomerate. The group owns apparel brands like Raymond, Raymond Premium Apparel, Park Avenue and Park Avenue Woman, ColorPlus & Parx. Meanwhile, based in Mumbai (Maharashtra), Raymond Ltd is the largest integrated manufacturer of fabric in the world as well as India’s biggest woollen fabric maker.

At the time of market closing on Tuesday, the stock of Raymond Ltd was trading at Rs 216.20, up by 0.21 per cent against its previous close of Rs 215.75. Its 52-week high is Rs 868.80 while, its 52-week low is Rs 209.50 on BSE.