RAYMOND LTD. - 500330 - Board Meeting Outcome for Intimation Pursuant To Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of Raymond Limited ('the Company') at their meeting held today i.e., October 3, 2023, have approved to invest an amount up to Rs. 301 Crore in one or more tranches in Ten X Realty Limited ('TXRL'), a step down wholly owned subsidiary of the Company. Out of the said investment, the Company will invest up to Rs.125 Crore in the form of Redeemable Preference Shares which would be subject to such terms as may be finally decided and agreed. Balance amount of Rs. 176 Crore will be invested by providing Inter Corporate Deposit (ICD) to 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 5:00 p.m. and concluded at 5:45 p.m.03-10-2023