Raymond Limited has issued a corrigendum to its Extraordinary General Meeting (EGM) notice to provide clarifications on a preferential issue of warrants. The company intends to raise proceeds aggregating Rs 330.88 crore through this issuance. The funds will primarily be utilized to drive acquisitions in India and internationally across targeted growth sectors, alongside general corporate purposes.

The stock exchanges, BSE Limited and the National Stock Exchange of India Limited, had requested additional information regarding the objects of the preferential issue. Consequently, the company released this corrigendum on June 10, 2026, which must be read in conjunction with the original EGM notice dated May 25, 2026. The EGM is scheduled to be held on June 18, 2026.

Utilization of Issue Proceeds

The company has outlined a specific allocation for the total proceeds. A significant portion of the capital is earmarked for strategic acquisitions to diversify and expand its business footprint. The deployment of these funds is expected to occur over a period of three years from the date of receipt.

Strategic Rationale for Acquisitions

Raymond Limited is focusing on building capabilities in high-growth, future-oriented sectors. The acquisition programme targets the aerospace and space technologies sector, driven by increased commercial aviation and defence modernization. In the automotive sector, the company aims to pursue opportunities in electric vehicle supply chains and auto-component manufacturing. Additionally, the company plans to explore defence manufacturing acquisitions to leverage domestic procurement targets under the "Aatmanirbhar Bharat" initiative.

The form of acquisitions may include direct equity stakes, joint ventures, asset purchases, or a combination of these structures. The Board of Directors will evaluate each opportunity based on commercial, financial, and regulatory considerations.

Rationale for Preferential Issue

The company has chosen to issue warrants rather than fully paid-up equity shares to ensure phased capital deployment aligned with actual needs. This structure minimizes immediate earnings per share (EPS) dilution and demonstrates promoter commitment through an upfront payment of 25% of the issue price. The preferential allotment to promoters provides speed and certainty of execution, which is crucial for time-sensitive acquisition opportunities.

Pending complete utilization for the specified objects, the company proposes to invest the proceeds in fixed deposits and debt mutual funds in accordance with its investment policy.

Raymond Limited will discuss its Q4FY26 and FY26 financial results at the India Inc. Unplugged 2026 - PCG Investor Conference organized by Phillip Capital (India) Pvt. Ltd. on June 23, 2026. The company's representatives will engage with investors through one-on-one and group meetings to review the performance details outlined in the investor presentation, which has already been submitted to the stock exchanges.

The conference will be held at Grand Hyatt in Mumbai, providing a platform for the management to elaborate on the financial outcomes for the quarter and fiscal year. The investor presentation covering these results is available on the company's website.

Conference Details

The schedule remains subject to change due to exigencies on the part of investors or the company.