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Raymond piece tag locked at 20% upper circuit on industry demerger – Moneycontrol.com
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Raymond piece tag locked at 20% upper circuit on industry demerger – Moneycontrol.com


Final Up to this point : Nov 08, 2019 01: 41 PM IST | Source:Moneycontrol.com

There had been pending purchase orders of 66,528 shares, with no sellers on hand.

Shares of Raymond had been locked in 20 percent upper circuit on November 8 after the firm demerged its core standard of living industry accurate into a separate listed entity.

The firm acknowledged the separate entity will doubtless be listed by plot of mirror shareholding structure, meaning every shareholder of Raymond Ltd will doubtless be issued the shares of the unique firm within the ratio of 1:1.

There had been pending purchase orders of 66,528 shares, with no sellers on hand.

The firm also launched the allotment of 33,38,278 equity shares value Rs 225 crore and 18,54,599 compulsorily convertible prefer shares of Rs 125 crore to JK Investo Commerce, an affiliate firm against the infusion of fetch proceeds of JKIT land sale that used to be launched in October 2019.

A total of Rs 350 crore will doubtless be used to repay the debt, thus deleveraging the Raymond balance-sheet.

At 1328 hours, Raymond used to be quoting at Rs 808.40, up Rs 134.70, or 19.99 percent, on the BSE.Catch fetch entry to to India’s fastest increasing monetary subscriptions provider Moneycontrol Pro for as miniature as Rs 599 for first twelve months. Command the code “GETPRO”. Moneycontrol Pro gives you alongside with your total info you would possibly possibly possibly possibly possibly like for wealth creation including actionable funding tips, impartial study and insights & evaluation For extra info, test out the Moneycontrol web space or cell app.

First Published on Nov 8, 2019 01: 41 pm

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