Key Approval
Board of Directors approved raising funds through preferential issue of convertible warrants and increase in authorized share capital.
Fund Raising Details
- Instrument: Convertible Warrants
- Number of Warrants: 66,57,373 (Sixty-Six Lacs Fifty-Seven Thousand Three Hundred and Seventy-Three)
- Issue Price: ₹614 per Warrant (including premium of ₹604 per Warrant)
- Total Amount: Approximately ₹409 Crores
- Issue Type: Preferential allotment on private placement basis
- Allottee: J K Investors (Bombay) Limited (member of Promoter Group)
Warrant Terms
- Conversion Right: Each warrant entitles holder to subscribe to 1 fully paid-up equity share of face value ₹10 each
- Conversion Price: ₹614 per share (including premium of ₹604 per share)
- Conversion Period: Maximum 18 months from date of allotment, convertible in one or more tranches
- Forfeiture: Unconverted warrants lapse after 18 months, upfront consideration forfeited
Capital Structure Change
- Current Authorized Share Capital: ₹70,00,00,000 divided into 7,00,00,000 equity shares of ₹10 each
- Proposed Authorized Share Capital: ₹75,00,00,000 divided into 7,50,00,000 equity shares of ₹10 each
- Increase: Additional 50,00,000 equity shares of ₹10 each, ranking pari-passu with existing shares
Ownership Impact
- Preferential Issue Allottee: J K Investors (Bombay) Limited
- Current Holding: 1,98,61,793 shares (29.83%)
- Post-Issue Holding (fully diluted basis assuming full conversion): 2,65,19,166 shares (35.99%)
Approvals Required
Subject to approval of shareholders of the Company and other applicable statutory and regulatory approvals.
Additional Information
Detailed disclosures required under Regulation 30 are provided in Annexure A. This information will be available on company website www.raymondrealty.in as per Regulations 30 and 46 of SEBI Listing Regulations.