Raymond approves Rs 40 crore fund-raising capital

As per an Economic Times report,Textile and apparels firm Raymond has approved raising of Rs 40 crore through private placement of non-convertible debentures.

The committee of directors has approved allotment of 400 secured listed rated redeemable non-convertible debentures (NCDs) of face value Rs 10,00,000 each at par, Raymond Ltd said in a regulatory filing.

The NCDs will have a coupon rate of 8.85 per cent The debentures are proposed to be listed on the Wholesale Debt Market segment of the National Stock Exchange of India .

Raymond is a diversified group with majority business interests in Textile & Apparel sectors as well as presence across diverse segments such as FMCG, Engineering and Prophylactics in national and international markets. Having enjoyed the patronage of over a billion consumers, Raymond as a brand has been consistently delivering world class quality products to its consumers since the past nine decades.