Raymond Limited — Capital/Financing Update 2024

Sep 12, 2024

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RL/SE/24-25/136

September 12, 2024

To The Department of Corporate Services - CRD BSE Limited P.J. Towers, Dalal Street Mumbai - 400 001 Scrip Code: 500330

The National Stock Exchange of India Limited Exchange Plaza, 5[th] Floor Bandra-Kurla Complex Bandra (East), Mumbai - 400051 Symbol: RAYMOND

Dear Sir/Madam

Sub.: Intimation pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations")

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that the Board of Directors of Raymond Limited (‘the Company’) at their meeting held today i.e., September 12, 2024, have approved to invest an amount up to Rs. 100 Crore in the form of Redeemable Preference Shares in one or more tranches in Ten X Realty West Limited (“TXRWL”), a step down wholly owned subsidiary of the Company.

The terms and conditions of Redeemable Preference Shares would be mutually decided and agreed at the time of issue. The amount proposed for investment would be utilized for the purpose of execution of redevelopment project by TXRWL.

Details as required under Regulation 30 of Listing Regulations read with Circular no. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 are enclosed as Annexure A.

The Board meeting commenced at 11:30 a.m. and concluded at 11:45 a.m.

Thanking you.

Yours faithfully,

For Raymond Limited

Rakesh Digitally signed by Rakesh Muljibhai Muljibhai Darji Date: 2024.09.12 Darji 11:55:13 +05'30' Rakesh Darji Company Secretary

Encl.: as above

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Annexure A
a) Name of the target entity, details in brief such Ten X Realty West Limited (“TXRWL”) is
as size, turnover etc. a step-down wholly owned subsidiary
(“WoS”) company formed to undertake
joint development/redevelopment real
estate projects.
As on date, Authorized Share Capital of
TXRWL is Rs.1 Lac divided into 10,000
equity shares of Rs.10 each
Turnover as on March 31, 2024: Nil as
TXRWL is in project stage.
b) Whether the acquisition would fall within Not Applicable
related party transaction(s) and whether the
promoter/ promoter group/ group companies
have any interest in the entity being acquired?
If yes, nature of interest and details thereof and
whether the same is done at “arm’s length”
c) Industry to which the entity being acquired TXRWL was incorporated as step-down
belongs wholly owned subsidiary with an object
to undertake real estate business.
d) Objects and impact of acquisition (including Investment in Redeemable Preference
but not limited to, disclosure of reasons for Shares of TXRWL is being approved to
acquisition of target entity, if its business is provide funding for real estate project
outside the main line of business of the listed undertaken by TXRWL.
entity)
e) Brief details of any governmental or regulatory Not Applicable
approvals required for the acquisition;
f) Indicative time period for completion of the Not Applicable
acquisition;
g) Nature of consideration – whether cash Subscription in cash.
consideration or share swap and details of the
same;
h) Cost of acquisition or the price at which the The investment in Redeemable
shares are acquired; Preference Shares will be done in one or
more tranches in compliance of the
requirement of Companies Act, 2013 at
fair value.
i) Percentage of shareholding / control acquired TXRWL is a wholly owned step-down
and / or number of shares acquired; subsidiary of the Company.
j) Brief background about the entity acquired in TXRWL was incorporated in India and
terms of products/line of business acquired, registered with Registrar of Companies,
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date of incorporation, history of last 3 years Mumbai, Maharashtra on January 3, turnover, country in which the acquired entity 2024 to undertake real estate business. has presence and any other significant information (in brief); The Company is in project stage and therefore, Nil turnover has been recorded. As such, there are no significant details to report.

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