News ArticleRaymond Limited Obtains In-Principle Approval from NSE and BSE for Preferential Issue of 33,28,686 Convertible Warrants
The issue is priced not less than Rs. 645 per warrant and targets non-promoter investors, pending regulatory and listing compliance
Raymond Limited has secured in-principle approval from NSE and BSE for preferential issue of 33,28,686 convertible warrants to non-promoters at a price not less than Rs. 645 each. The allotment is subject to compliance with applicable regulations and procedural conditions.
Raymond Limited
Preferential Issue
Raymond Limited has received in-principle approval from the National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE) for its preferential issue of 33,28,686 convertible warrants to non-promoter investors. Each warrant is convertible into one equity share of Rs. 10 at a price not less than Rs. 645 per share.
The convertible warrants are being issued on a private placement basis and will convert into an equal number of equity shares upon allotment. This fundraising move is part of Raymond Limited's capital raising strategy, adhering to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and other applicable laws including the Companies Act, 2013.
The NSE and BSE approvals come with conditions including the requirement for Raymond to file the listing application promptly after allotment, obtain all statutory approvals including from SEBI, RBI, and MCA, and comply with applicable exchange guidelines and regulations.
The company is additionally advised to enforce robust internal controls to monitor trading activities of the proposed allottees before allotment to prevent any non-compliance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. This includes obtaining undertakings from allottees to restrict intra-day trading or sale of securities until allotment.
Raymond Limited must continue to comply with all necessary post-issue formalities, applicable fees, and submit documents as required by the exchanges to complete the listing process. The exchanges reserve the right to withdraw in-principle approvals if any information is found incorrect or misleading.
Highlights
- Raymond Limited to issue 33,28,686 convertible warrants to non-promoter investors through preferential issue.
- Each warrant convertible into one equity share of Rs. 10 at price not less than Rs. 645 per share.
- Received in-principle approval from NSE and BSE on November 6, 2026.
- Issue subject to regulatory compliance including filing listing application, obtaining statutory approvals, and adherence to SEBI and exchange regulations.
- Company instructed to impose internal controls to monitor allottee trading activity to avoid non-compliance with SEBI ICDR regulations.
- Post-issue formalities and fee payments required for final listing of shares.
Key Data Snapshot
What happened
- Raymond Limited has secured in-principle approvals from NSE and BSE for a preferential issue of 33,28,686 convertible warrants.
- Each convertible warrant will convert to one equity share with a face value of Rs. 10, issued at a price not less than Rs. 645 per share.
- The issue is directed at non-promoter investors and is being conducted via private placement.
Key details
- Approval letters were received on November 6, 2026, from NSE and BSE.
- The company must file a listing application promptly after allotment and meet all statutory and regulatory requirements before share listing.
- Exchange approvals are subject to conditions including compliance with SEBI (LODR) Regulations, Companies Act, and other applicable laws.
- Internal control measures are advised to prevent intra-day trading or sales by the allottees before allotment, requiring formal undertakings from the allottees.
Regulatory and governance context
- Raymond Limited must ensure compliance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and Chapter V provisions.
- The company holds responsibility to verify the undertakings from allottees regarding trading restrictions.
- Non-compliance may impact share listing or result in withdrawal of approvals by exchanges.
- Post-issue compliance includes fee payment and submissions as per exchange checklists and guidelines.
Highlights
- Raymond Limited to issue 33,28,686 convertible warrants to non-promoter investors through preferential issue.
- Each warrant convertible into one equity share of Rs. 10 at price not less than Rs. 645 per share.
- Received in-principle approval from NSE and BSE on November 6, 2026.
- Issue subject to regulatory compliance including filing listing application, obtaining statutory approvals, and adherence to SEBI and exchange regulations.
- Company instructed to impose internal controls to monitor allottee trading activity to avoid non-compliance with SEBI ICDR regulations.
- Post-issue formalities and fee payments required for final listing of shares.
Disclosures
- Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
- Companies Act, 2013
- SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
- Securities Contracts (Regulation) Act, 1956
- Depositories Act, 1996
Issue directed to non-promoter investors only.
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