Raymond To Invest Rs 301 Cr in Ten X Realty

Raymond To Invest Rs 301 Cr in Ten X Realty

Out of this investment the company will invest Rs 125 crore in the form of Redeemable Preference Shares and the balance Rs 176 crore will be invested by providing Inter Corporate Deposit (ICD) to TXRL.

FPJ Web DeskUpdated: Tuesday, October 03, 2023, 06:22 PM IST
article-image
Raymond To Invest Rs 301 Cr in Ten X Realty | Image credit: Raymond (Representative)

Raymond Limited to invest Rs 301 crore in one or more tranches in Ten X Realty Limited, a step down wholly owned subsidiary, the company said through an exchange filing. Out of this investment the company will invest Rs 125 crore in the form of Redeemable Preference Shares and the balance Rs 176 crore will be invested by providing Inter Corporate Deposit (ICD) to TXRL.

At present TXRL has undertaken redevelopment of the housing society at Bandra, Mumbai under Joint Development Agreement.

As on date, Authorized Share Capital of TXRL is Rs.75.10 Crore divided into 1 Lac equity shares of Rs.10 each and 7.5 Crore preference shares of Rs. 10 each.

TXRL was incorporated in India and registered with Registrar of Companies, Mumbai, Maharashtra on December 24, 2021 to undertake real estate business. Therefore, there are no significant details to report.

Raymond shares

The shares of Raymond on Tuesday closed at Rs 1,812, up by 0.21 per cent.

RECENT STORIES

Defi Sensation Retik Finance (RETIK) Is Considered The Best Token For 2024

Defi Sensation Retik Finance (RETIK) Is Considered The Best Token For 2024

India Shelter Finance To Launch ₹1,200-Cr IPO On December 13

India Shelter Finance To Launch ₹1,200-Cr IPO On December 13

RBI Governor-led MPC Keeps Repo Rate Unchanged At 6.50%

RBI Governor-led MPC Keeps Repo Rate Unchanged At 6.50%

India Prohibits Onion Exports Till March 2024

India Prohibits Onion Exports Till March 2024

Gold, Silver Prices On December 8; Check Prices In Mumbai, Delhi, Chennai, Kolkata

Gold, Silver Prices On December 8; Check Prices In Mumbai, Delhi, Chennai, Kolkata