Raymond Limited, one of India's leading diversified groups, has announced that its Board of Directors has approved an investment of ₹65 Crore in the form of Redeemable Preference Shares (RPS) in Ten X Realty East Limited (TXREL), a step-down wholly owned subsidiary (WoS) of the company. The decision was taken during the Board meeting held on March 22, 2025, which commenced at 4:00 PM and concluded at 4:15 PM.

Investment Details and Purpose

As per the disclosure to BSE Limited (Scrip Code: 500330) and National Stock Exchange of India Limited (Symbol: RAYMOND), the ₹65 Crore investment will be executed in one or more tranches, subject to mutually agreed terms and conditions at the time of issue. The primary objective of this investment is to provide funding for the redevelopment project being undertaken by TXREL.

Ten X Realty East Limited (TXREL) was incorporated with the sole objective of undertaking real estate joint development and redevelopment projects. As of now, TXREL is in the project stage and has not recorded any revenue for the financial year ending March 31, 2024.

Regulatory Compliance and Governance

In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Raymond Limited has disclosed the transaction along with the required details in Annexure A of the announcement. The investment in RPS will be conducted in adherence to the Companies Act, 2013, and the valuation will be done at fair market value as per regulatory norms.

Key Details of the Transaction

• Nature of Transaction: Investment through Redeemable Preference Shares.

• Consideration Mode: Subscription through cash in one or more tranches.

• Purpose of Investment: Funding of TXREL’s redevelopment project.

• Percentage of Control: TXREL remains a wholly owned step-down subsidiary of Raymond Limited.

• Regulatory Approvals: No specific regulatory or government approvals are required for this transaction.

About Ten X Realty East Limited (TXREL)

TXREL was incorporated on December 20, 2023, in Mumbai, Maharashtra, and registered with the Registrar of Companies. The company was formed to undertake real estate redevelopment projects and has been in the project stage since its inception. As of now, TXREL has nil turnover and has not recorded any operational revenue over the past three years.

Not a Related Party Transaction

It is important to note that this investment does not constitute a related party transaction, and the promoter/promoter group or group companies do not have any specific interest in the entity being acquired. The transaction is executed at arm’s length, maintaining transparency and compliance with regulatory guidelines.

Financial and Strategic Impact

The investment in TXREL aligns with Raymond’s strategy to expand its presence in the real estate segment. This funding is expected to accelerate the execution of the redevelopment projects, enhancing the company's portfolio and contributing to long-term growth.

The company has reiterated its commitment to timely compliance with listing obligations and ensuring that the details of such material transactions are disclosed promptly to the exchanges.

Conclusion

The approval of ₹65 Crore investment in TXREL highlights Raymond Limited's focus on strengthening its position in the real estate sector through strategic investments. With the project in its early stages, this funding will facilitate seamless project execution and contribute positively to the company’s future financial performance.

Investors and stakeholders can access the official announcement and further updates on the company’s website and stock exchange platforms.

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