Fabric manufacturer, Raymond is planning to raise funds via NCDs. The company via an exchange filing made on May 18, 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 1925, Raymond Group, the parent organization of Raymond, 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.