Raymond Limited conducted its 101st Annual General Meeting on July 14, 2026, adopting the audited standalone and consolidated financial statements for the financial year ended March 31, 2026. The meeting, held via two-way video conferencing and other audio-visual means, approved the reports of the Board of Directors and Auditors alongside the financial results. Shareholders also sanctioned the payment of commission to non-executive directors, calculated based on the company's net profits.

Key Resolutions Passed

The business transacted at the AGM included four primary resolutions. The company's shareholders approved the financial statements for FY26 and ratified the appointment of M/s. Price Waterhouse, Chartered Accountants, LLP as the statutory auditor. Additionally, Mr. Harmohan Sahni (DIN: 00046068), who retired by rotation, was re-appointed to the board as he was eligible.

Voting and Proceedings

All resolutions were open for voting through both remote e-voting and e-voting facilities available during the AGM. The Chairman authorised the Company Secretary to declare the voting results. The meeting commenced at 02:00 p.m. and concluded at 2:59 p.m. on July 14, 2026.

The detailed voting results and the Scrutinizer's Report will be disseminated to the stock exchanges and made available on the company's website in due course. The proceedings were conducted in compliance with the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Raymond Ltd has allotted 66,57,373 convertible warrants to JK Investors (Bombay) Limited on a preferential basis. The warrants were allotted at a price of ₹497 each, comprising a face value of ₹10 and a premium of ₹487. This allotment follows the company's receipt of in-principle approval from BSE Limited and The National Stock Exchange of India Limited and the necessary shareholder nod.

The Board of Directors approved the allotment via a resolution passed through circulation on July 9, 2026. The company received an upfront subscription amount of ₹124.25 per warrant, equivalent to 25% of the total issue price. The warrants are convertible into an equal number of fully paid-up equity shares upon receipt of the balance 75% consideration within the stipulated timeframe.

Allotment and Shareholding Details

The preferential issue impacts the shareholding pattern of JK Investors (Bombay) Limited. The post-preferential shareholding is calculated on a fully diluted basis, assuming full conversion of the warrants and exercise of all outstanding employee stock options.

*On a fully diluted basis.

The total paid-up share capital of the company will remain unaffected until the actual conversion of these warrants into equity shares. The company is required to make an application for listing within twenty days from the date of allotment, as per SEBI circular no. SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023. The exchanges have mandated that the company strengthen internal controls to monitor trades executed by the allottees to prevent non-compliance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.