Raymond Limited decided to raise funds up to Rs. 100 crores via NCDs

Raymond Limited decided to raise funds up to Rs. 100 crores via NCDs: Raymond Limited: It is one of the largest fabric and fashion retailer based company in India located in Mumbai. The company produces fabric material with a capacity of 31 million meters of wool and wool-blended fabrics across... The post Raymond Limited decided to raise funds up to Rs. 100 crores via NCDs appeared first on stockinvestor.in.

Raymond Limited decided to raise funds up to Rs. 100 crores via NCDs

Raymond Limited decided to raise funds up to Rs. 100 crores via NCDs:

Raymond Limited: It is one of the largest fabric and fashion retailer based company in India located in Mumbai. The company produces fabric material with a capacity of 31 million meters of wool and wool-blended fabrics across India. However, the company brands its wool and fabrics under the name Raymond, Raymond Premium Apparel, Park Avenue, and ColorPlus. On the other side, the company also engaged in readymade garments, designer wear, and cosmetics. The present chief executive officer (CEO) of the company is Sanjay Behl.

Meanwhile, on Friday, September 25th, the shares of the company surged almost 5% in the stock market. The main reason for this is the company board decided and approved to raise funds up to Rs. 100 crores via non-convertible debentures (NCDs) on a private placement basis.

Besides, the board of meetings held on Thursday, September 24th decided and approved to raise funds up to Rs. 100 crores on a private placement basis. The board members of the company also decided the coupon rate at 8.60% would be listed on the National Stock Exchange (NSE).

On the other side, the tenure of the bonds decides at 1,095 days from the date of allotment. The company decided the allotment date is September 29th, 2020. 

However, the shares of Raymond Limited reported a bullish trend in the stock market on Friday. The company gained 10.50 points with a 4.15% increase and reached 263.70 INR. While in BSE, the company gained 10.40 points with a 4.11% increase and reached 263.50 INR.

Stock Market September 25th:

On Friday, both Sensex and Nifty reported a bullish trend in the stock market after bearish reports in the last six sessions of the stock market. The Sensex is trading above 37,300 levels and the Nifty is trading above 11,000 levels in the stock market. The gained 835.06 points with a 2.28% increase and reached a 37,388.66 level. While Nifty gained 244.70 points with a 2.26% increase and reached 11,050.25 level.

On the other side, the number of coronavirus cases in India reached 59,03,932 as of Saturday, September 26th, and deaths reached 93,379.

In the border markets, the S&P BSE SmallCap reported a bullish trend in the stock market on Friday. It gained 327.30 points with a 2.31% increase and reached a 14,495.58 level. The S&P BSE MidCap gained 403.47 points with a 2.90% increase and reached a 14,336.68 level. While the Nifty Bank gained 525.50 points with a 2.57% increase and reached 20,982.35 level.

Top Gainers on September 25th: Bajaj Finserv, IndusInd Bank, HCL Technologies, Cipla, and Bharti Airtel are the top gainers in today’s stock market.

Top Losers on September 25th: SBI Life Insurance, Bharat Petroleum Corporation Limited (BPCL), and UPL are the top losers in today’s stock market. 

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