Raymond shareholders approve preferential issue of securities to Minerva Ventures
- Raymond shareholders approved preferential issue of 33,28,686 share warrants to Minerva Ventures Fund
- Resolution passed with 99.9978% of votes cast in favour during EGM held on October 3, 2026
- Promoters and public institutions voted unanimously in support of the private placement
*this image is generated using AI for illustrative purposes only.
Raymond Limited shareholders approved a special resolution for the preferential issue of 33,28,686 Share Warrants on a private placement basis to Minerva Ventures Fund. The approval was secured during an Extraordinary General Meeting (EGM) held on October 3, 2026.
The meeting commenced at 4:30 pm and concluded at 5:04 pm, including the e-voting facility. It was conducted through two-way video conferencing and other audio-visual means in compliance with the Companies Act, 2013 and relevant Ministry of Corporate Affairs circulars.
Resolution details
The single agenda item for the EGM was the preferential issue of securities. The resolution was classified as a special resolution, requiring a higher threshold of shareholder approval compared to ordinary resolutions. Voting was open to both remote e-voting participants and those voting electronically during the live meeting.
| Item | Particulars | Resolution Type | Outcome |
|---|---|---|---|
| 1 | Preferential Issue of Securities to Minerva Ventures Fund | Special | Passed |
Voting results
The resolution passed with a requisite majority, securing 99.9978% of the total valid votes cast in favour. Only 833 votes were cast against the proposal, representing 0.0022% of the total votes polled. Promoters and promoter group voted unanimously in favour, accounting for the majority of the affirmative votes.
| Category | Votes Polled | Votes In Favour | % In Favour |
|---|---|---|---|
| Promoter and Promoter Group | 3,25,26,050 | 3,25,26,050 | 100.00% |
| Public - Institutions | 50,89,842 | 50,89,842 | 100.00% |
| Public - Non Institutions | 47,109 | 46,276 | 98.23% |
| Total | 3,76,63,001 | 3,76,62,168 | 99.9978% |
Next steps
The Company Secretary, Rakesh Darji, declared the voting results as authorized by the Chairman. Detailed voting outcomes, including remote e-voting and on-meeting e-voting results along with the Scrutinizer's Report, will be disseminated to stock exchanges and placed on the company website in due course.
Historical Stock Returns for Raymond
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.31% | +7.41% | +90.99% | +271.97% | +108.66% | +160.83% |
How will the capital infusion from Minerva Ventures Fund specifically impact Raymond Limited's expansion plans in the real estate or apparel segments?
What are the expected dilution effects on existing minority shareholders once the 33.28 lakh share warrants are converted into equity?
Does Minerva Ventures Fund's entry signal a potential shift in Raymond Limited's long-term strategic direction or governance structure?
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