Textile giant Raymond plans to raise 40 crore

Indian textile and apparel giant Raymond recently announced the approval from its committee of directors to raise Rs 40 crore through a private placement of non-convertible debentures.

The committee approved allotment of 400 secured listed rated redeemable non-convertible debentures (NCDs) with a face value of Rs 10,00,000 at par each, and the NCDs will have a coupon rate of 8.85 per cent, Raymond Ltd said in a regulatory filing.

The company informed that the debentures are proposed to be listed on the Wholesale Debt Market segment of the National Stock Exchange of India Ltd in a report by the Press Trust of India.

Raymond offers end-to-end solutions for fabrics and garments. The company houses leading brands in its portfolio including Park Avenue, Raymond Premium Apparel, Parx, and Color Plus amongst others. Raymond has one of the largest exclusive retail networks in the textile and fashion space in India.