Raymond Limited — Important, 22-03-2025: Updates

The Board of Directors of Raymond Limited has approved an investment of up to ₹65 Crore in Redeemable Preference Shares for Ten X Realty East Limited (TXREL), a wholly owned subsidiary. This funding is designated for the execution of a redevelopment project by TXREL, which is currently in the project stage and reported no turnover for the fiscal year ending March 2024. TXREL, incorporated in December 2023, focuses on real estate development. As a wholly owned subsidiary, this investment positions Raymond Limited to enhance its operational capabilities in the real estate sector, presenting a strategic opportunity for future growth and development. Investors should monitor this move closely as it could signal an expansion into new markets.