Raymond Limited has officially appointed two new Independent Directors to strengthen its board governance. The Board of Directors, meeting on December 29, 2025, approved the appointments of Mr. Tikka Singh and Mr. Ajoy Mehta as Additional Directors designated as Non-Executive Independent Directors, effective January 1, 2026.

Board Appointments Confirmed

The appointments represent the culmination of a process that began with the Nomination and Remuneration Committee's recommendations in August. Both directors will serve five-year terms, marking their first tenure as Independent Directors with the company.

Director Profiles and Expertise

Mr. Tikka Singh

Mr. Tikka Shatrujit Singh brings extensive international business experience, having graduated from Doon School and Delhi University. He worked in finance for 10 years across New York's banking sector, with positions in Hong Kong, London, and Zurich. In 1995, he joined the French multinational group Moët Hennessy-Louis Vuitton (LVMH) as Chief Representative in Asia and was appointed Advisor to the Chairman of Louis Vuitton. He spearheaded Louis Vuitton's business development in India and helped launch Dom Pérignon champagne and Hennessy Cognac in the Indian market. He has been conferred the highest French distinction "Knight of the Legion of Honour."

Mr. Ajoy Mehta

Mr. Ajoy Mehta, aged 65 years, is a retired Indian Administrative Service (IAS) officer from the 1984 batch. He served as Chief Secretary of Maharashtra from May 10, 2019, to February 11, 2021, and subsequently as Chairman of the Maharashtra Real Estate Regulatory Authority from February 12, 2021, to September 20, 2024. As Municipal Commissioner of Mumbai, he worked on affordable housing initiatives and tackled sanitation issues. He completed his engineering from IIT BHU before joining the IAS.

Regulatory Compliance and Next Steps

The appointments comply with stock exchange requirements under circulars NSE/CML/2018/24 and BSE/LIST/COMP/14/2018-19 dated June 20, 2018. The Board meeting, which commenced at 2:00 p.m. and concluded at 2:32 p.m., formalized the appointments that were initially recommended by the Nomination and Remuneration Committee.

Neither Mr. Tikka Singh nor Mr. Ajoy Mehta is related to any existing Director or Key Managerial Personnel of the company, ensuring their independence as per regulatory requirements.

Raymond Limited , a prominent player in the Indian textile industry, has seen a significant change in its promoter shareholding structure. J.K. Investors (Bombay) Limited, a key promoter of Raymond, has released the pledge on a substantial portion of its shareholding in the company.

Pledge Release Details

According to the latest disclosure filed with the stock exchanges, J.K. Investors (Bombay) Limited has released the pledge on 5,899,522 shares of Raymond Limited. This represents approximately 8.86% of the company's total share capital. The shares were previously held as collateral with Bajaj Finance Limited.

Impact on Promoter Shareholding

Despite this significant release of pledged shares, J.K. Investors (Bombay) Limited continues to maintain its overall promoter stake in Raymond at 29.83%. This move reduces the promoter's pledged shareholding, potentially indicating improved financial flexibility for the promoter group.

Detailed Breakdown of the Pledge Release

The pledge release was executed in two tranches:

Current Promoter Holding Structure

Following this transaction, the promoter group's shareholding in Raymond Limited stands as follows:

Implications

The release of pledged shares by a major promoter is often viewed positively by the market. It may indicate:

1. Improved financial health of the promoter group
2. Reduced risk of forced selling in case of market volatility
3. Increased confidence in the company's future prospects

While this development doesn't directly impact Raymond's operations, it could potentially boost investor confidence in the stock. However, investors should continue to monitor the company's fundamental performance and industry trends when making investment decisions.

Raymond Limited, known for its textiles and apparel brands, continues to be a significant player in the Indian market. Market participants will be keen to see how this change in promoter shareholding structure might influence the company's strategic decisions going forward.