Raymond Ltd to invest an amount up to Rs. 65 crore in Ten X Realty East Ltd

The Board of Directors of Raymond Limited ('the Company') at their meeting held today i.e., March 22, 2025, have approved 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 Limited ("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.

Shares of Raymond Limited was last trading in BSE at Rs. 1481.00 as compared to the previous close of Rs. 1410.80. The total number of shares traded during the day was 167037 in over 9637 trades.

The stock hit an intraday high of Rs. 1564.80 and intraday low of 1410.80. The net turnover during the day was Rs. 251743228.00.

Source : Equity Bulls

Keywords

Raymond INE301A01014 Investment RedeemablePreferenceShares TenXRealtyEast