Raymond to raise up to Rs 150 cr through NCDs

Textile and apparel major Raymond today said its board has approved raising up to Rs 150 crore through issuance of non convertible debentures on private placement basis.

"The committee of directors approved issue of non-convertible debentures (NCDs) aggregating up to an amount of Rs 150 crore on a private placement basis," Raymond said in a BSE filing.

However, the company did not elaborate on the purpose of raising funds.

Shares of the company were trading down 1.22 per cent at Rs 720.90 apiece on the BSE.