Suiting fabric maker Raymond today said it has infused Rs 61.68 crore in Raymond Luxury Cottons Ltd (RLCL) by subscribing to equity shares.
The company also announced appointment of Sanjay Bahl as Chief Financial Officer after incumbent M Shivkumar resigned from the post.
Raymond has subscribed to 6.16 crore shares of Rs 10 face value and post allotment its equity share capital of RLCL now stands at Rs 127.68 crore constituting 75.69 per cent of the equity capital.
"RLCL has allotted the equity shares and the investment of Raymond Limited in the equity share capital of RLCL now stands at Rs 127.68 crore constituting 75.69 per cent of the equity capital," Raymond Ltd informed BSE in a filing.
In a separate filing, Raymond said that it has appointed Sanjay Bahl as Chief Financial Officer (CFO) of the company as M Shivkumar has put in his papers.
Bahl's appointment would be effective from from November 16, 2015.
Bahl, a chartered accountant has over 25 years of experience in FMCG, fertilisers, construction products and retail.
