Meeting Details

The Extraordinary General Meeting remains scheduled to be held on Thursday, June 18, 2026, at 02:00 p.m. IST through Video Conferencing / Other Audio-Visual Means.

Summary of Proposed Resolutions and Implications

The corrigendum modifies the explanatory statement for Item No. 1 of the EGM Notice, which concerns the issue of warrants on a preferential basis to promoters. The key changes clarify the utilization of proceeds totaling ₹330.88 crore (Rupees Three Hundred and Thirty crore and Eighty-eight Lakh):

  • Objects of the Issue:
  • 75% (₹248.16 crore) for funding acquisitions of businesses in India and internationally across targeted growth sectors (Aerospace, Automotive, Defense, and other high-growth future-oriented sectors) either directly or through subsidiary entities for organic and inorganic growth, including repayment of acquisition debt.
  • 25% (₹82.72 crore) for General Corporate Purposes (including transaction costs).
  • Strategic Rationale for Acquisitions: The Company intends to diversify and expand its business footprint in high-growth sectors including Aerospace and Space Technologies, Automotive and Auto-Components, and Defence and Defence Manufacturing, leveraging initiatives such as "Make in India" and "Aatmanirbhar Bharat."
  • Form of Acquisitions: May include direct equity acquisition, joint ventures, asset purchases (including intellectual property or manufacturing plants), or a combination thereof. The Board of Directors will evaluate and approve each opportunity.
  • Rationale for Warrant Structure:
  • Enables phased capital deployment aligned with actual needs over 12-18 months.
  • Ensures commitment through upfront payment of 25% of issue price upon allotment.
  • Provides regulatory efficiency under Chapter V of ICDR.
  • Minimizes immediate EPS dilution.
  • Rationale for Promoter Allotment:
  • Provides speed and transaction certainty for time-sensitive acquisitions.
  • Demonstrates promoter commitment and conviction in strategic direction.
  • Creates governance accountability through co-investment.
  • Avoids underwriting fees and placement commissions, making it cost-effective.

Proposed Schedule and Timeline for Utilization

  • The Company proposes to utilize the issue proceeds within a period of three years from the date of receipt of funds.
  • The entire Issue Proceeds with respect to the Warrants will be received within 18 months from the date of allotment, in accordance with Chapter V of the ICDR.
  • The amount specified for the Objects may deviate by +/- 10% depending on future circumstances, and the Board reserves the right to re-schedule and revise planned expenditure.

Interim Use of Proceeds

Pending complete utilization, the Company intends to invest the Issue Proceeds in fixed deposits and debt mutual funds as per the Company's Investment policy, and will not use them for any purpose inconsistent with the stated Objects.

Compliance and Additional Information

The corrigendum is issued in compliance with requests from BSE (communication dated June 8, 2026) and NSE (communication dated June 3, 2026). It forms an integral part of the original EGM Notice and explanatory statement. The document confirms that the corrigendum is being sent electronically to members whose email addresses are registered and is available on the company's website (www.raymond.in) and the websites of BSE (www.bseindia.com) and NSE (www.nseindia.com).

Names and Roles of Signatories

  • Rakesh Muljibhai Darji, Company Secretary, signed the covering letter to the stock exchanges.
  • Rakesh Darji, Company Secretary, signed the corrigendum document itself.

The original EGM Notice was dispatched to members on May 27, 2026, in compliance with the Companies Act, 2013, and SEBI LODR Regulations.