Raymond Ltd

Dematerialisation processing and certificate status

• Dematerialisation requests processed: accepted or rejected and confirmed to depositories.
• Securities dematerialised have been listed on the stock exchanges where the issuer's securities are listed.
• Physical certificates received for dematerialisation were mutilated and cancelled after due verification.
• Depository name substituted as registered owner in the members register within prescribed timelines.

Raymond Limited: Trading Window closed from October 01, 2026 until 48 hours after declaration of Financial Results for the quarter ending September 30, 2026

Meeting Details

• Date: September 28, 2026; Mode: Group virtual meeting.

Participants

• Company representatives to participate.

Purpose

• Discuss Q1FY27 results and investor interactions.

Organizer / Conference

• Organizer: Arihant Capital; Conference: Bharat Connect Conference - Rising Stars.

Availability of Presentation

• Q1FY27 Investor Presentation submitted to stock exchanges and on company website.

Event details

• JK Maini Global Aerospace won a tender to assemble wing and fuselage structures for a major fighter aircraft.
• Raymond now counts Aerospace as a core engineering vertical alongside Defence & Tools and Auto Components.
• Acquisition of Maini Precision Products Limited expanded Raymond's engineering into aerospace and defence.
• Program leverages customer infrastructure to develop capability with capital-efficient execution.
• Management intends to build execution credentials for participation in larger aerospace programs.

Purpose & Terms

• Special resolution to issue up to 33,28,686 Warrants to Minerva Ventures Fund.
• Warrants convert 1:1 into equity shares at ₹645 per warrant.
• Warrants exercisable within 18 months from allotment.
• Upfront 25% of issue price; balance 75% on exercise.
• Total proceeds up to ₹214.71 crore via private placement.
• Floor price ₹644.74; Relevant Date 3 September 2026.
• Post-issue, Minerva would hold 4.35%; promoters 50.77%.
• No change in board composition or control.

Use of Proceeds & Allocation

• Objects: 75% for acquisitions; 25% for general corporate purposes.
• Acquisitions targeted in aerospace, automotive, and defense sectors.
• Utilization horizon: within 3 years of funds receipt.
• Monitoring by CARE Ratings; quarterly reports to stock exchanges.
• Related-party transactions from investment require Audit Committee and shareholder approvals.
• Unutilized proceeds may be redeployed later per board discretion.

Allottee & Shareholding Impact

• Proposed allottee: Minerva Ventures Fund; category: Public.
• Pre-issue Minerva holding 0%; post-issue 4.35%.
• Promoter group holding rises from 48.87% to 50.77%.
• Promoters/directors do not subscribe to the offer.
• Board composition and control remain unchanged.

Governance & Regulatory Details

• Board approved the issue on 8 September 2026; subject to member approval.
• EGM date: 3 October 2026; venue via VC/OAVM.
• Equity shares to be listed on stock exchanges after conversion.
• Warrants carry no voting rights until conversion.

Other Disclosures & Background

• Earlier preferential issue to JK Investors (Promoter Group) of 66,57,373 warrants at ₹497.
• Ultimate beneficial owner of Minerva: Ghanshyam Hurry.

Operational update

• Aerospace subsidiary secured new orders from a leading Indian aerospace and defence major.
• Order covers more than 300 part numbers across precision machining, castings, structural components and assemblies.
• Annual potential business from these orders is approximately ₹33 crore.
• Production will commence progressively across 2026 and 2027.
• Scope includes precision machining, aerospace castings, structural components and complex assemblies.

Issue overview

• Fundraise through 33,28,686 convertible warrants for cash at ₹645 each.
• Aggregate consideration up to ₹214.71 crore.

Warrant terms

• Each warrant allows one equity share; conversion within 18 months.
• Unexercised warrants lapse after 18 months with upfront amount forfeited.

Allottee and shareholding

• Proposed allottee: Minerva Ventures Fund; one investor.
• Post-issue fully diluted holding: 4.35% for Minerva.

Approvals

• Subject to shareholders’ approval and other regulatory clearances.

Other notes

• Issue is a private placement via preferential issue; cash consideration.