Raymond Limited has scheduled an Extraordinary General Meeting (EGM) for June 18, 2026, to seek shareholder approval for the preferential allotment of warrants to JK Investors (Bombay) Limited, a promoter group entity. The company proposes to issue up to 66,57,373 warrants at a price of ₹497 each, aggregating to approximately ₹330.88 crore, to fund acquisitions and general corporate purposes.

The Board of Directors approved the proposal on May 25, 2026. The warrants, convertible into one fully paid-up equity share of ₹10 each after 18 months, require an upfront payment of 25% of the issue price, with the balance due upon conversion. The relevant date for determining the floor price is May 19, 2026, with the floor price calculated at ₹496.37 per warrant based on the volume weighted average price.

Object of the Issue

The company intends to utilize the net proceeds of approximately ₹330.88 crore for specific objects. A major portion, amounting to ₹248.16 crore (75%), will be allocated for funding acquisitions in India and internationally across targeted growth sectors such as aerospace, automotive, and defence, as well as for capital expenditure and capacity expansion at subsidiary companies including JK Maini Precision Technology Limited and JK Maini Global Aerospace Limited. The remaining ₹82.72 crore (25%) will be used for general corporate purposes.

Shareholding Pattern

Upon full conversion of the warrants, the shareholding of the promoter and promoter group is expected to increase from 48.87% to 53.52%. JK Investors (Bombay) Limited, the proposed allottee, currently holds 29.83% of the pre-issue share capital, which will rise to 36.21% post-conversion. The company has confirmed that there will be no change in the composition of the Board or control of the company consequent to the issue.

Key Dates and E-voting

The EGM will be conducted via Video Conferencing (VC) and Other Audio Visual Means (OAVM). Remote e-voting will commence on June 13, 2026, at 09:00 A.M. IST and conclude on June 17, 2026, at 05:00 P.M. IST. The cut-off date for determining shareholder eligibility for voting is June 11, 2026.

CARE Ratings Limited has been appointed as the monitoring agency to oversee the utilization of the issue proceeds, which must be completed within 18 months from the date of allotment of the warrants.

Raymond Limited has confirmed that its promoters and members of the promoter group have not created any fresh encumbrance on their shareholding during the financial year 2025-26. The declaration, submitted on April 06, 2026, ensures compliance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulatory requirement mandates disclosure of any direct or indirect pledging or encumbrance of shares by promoters and persons acting in concert.

The filing addressed to the stock exchanges lists 12 entities falling under the promoter and promoter group categories. The list includes key individuals such as Gautam Hari Singhania, Niharika Gautam Singhania, and Nawaz Singhania. It also features corporate entities like J K Investors (Bombay) Limited, J K Investo Trade (India) Limited, and J K Helene Curtis Limited.

The disclosure confirms that no new encumbrances were made during the specified period beyond those already reported to the exchanges. The list of promoters also includes Late Shri Vijaypat Singhania and Smt. Ashadevi Singhania. Among the promoter group entities are Smt Sunitidevi Singhania Hospital Trust and Polar Investments Limited.

Gautam Hari Singhania signed the declaration on behalf of all promoters and the promoter group. The communication was copied to the Audit Committee of Raymond Limited for record-keeping purposes. The submission serves as a formal confirmation to the exchanges regarding the status of the promoters' holdings.

The following table details the promoters and promoter group members mentioned in the declaration: