Raymond plans to raise Rs 100 crore through NCDs

Textiles major Raymond Ltd on Monday said the company plans to raise up to Rs 100 crore through non-convertible debentures (NCDs) on a private placement basis.

The company's board will meet on May 21 "to consider and approve the issue of non-convertible debentures aggregating up to an amount not exceeding Rs 100 crore on a private placement basis," Raymond said in a regulatory filing.

The NCDs are proposed to be listed on the National Stock Exchange, it added.

Shares of Raymond Ltd on Monday settled at Rs 215.75 on the BSE, down 2.57 per cent from the previous close.