Date: October 22, 2026
Board Meeting Outcomes
The Company provides an update regarding its Preferential Issue of Securities on Private Placement basis that was approved at an Extra Ordinary General Meeting held on October 3, 2026.
Fundraising / Financing
Raymond Limited is proceeding with a preferential issue of 33,28,686 share warrants to Minerva Ventures Fund, a Non-Promoter Group Entity/Public Category investor.
The original disclosure in the EOGM notice dated September 8, 2026 indicated Minerva Ventures Fund would hold 4.35% post-issue on a fully diluted basis assuming full conversion of proposed and existing outstanding warrants.
This disclosure has been revised following queries from stock exchanges. The updated post-preferential issue holding for Minerva Ventures Fund is now 4.31% on a fully diluted basis, calculated assuming:
- Full conversion of Share Warrants already issued
- Full conversion of Share Warrants proposed to be issued under this Issue
- Exercise of 6,35,499 Employee Stock Options outstanding as of September 8, 2026
The pre-preferential issue holding remains 0% for Minerva Ventures Fund.
The Company confirms that there will be no change in the composition of the Board nor any change in the control of the Company consequent to the proposed Preferential Issue.