Raymond shares jump 22% to ₹1,024.50 after fundraising reveal
Business
Raymond's stock just jumped 22% in two days, reaching a fresh 52-week high of ₹1,024.50 on the NSE this Friday.
Investors got excited after the company revealed plans for a big fundraising move, and the stock has soared 56% this September alone.
Raymond seeks ₹214.71cr via 33L warrants
Raymond is looking to raise ₹214.71 crore by issuing over 33 lakh convertible share warrants at ₹645 each to Minerva Ventures Fund through private placement, pending approvals.
While shares dipped briefly right after the announcement, they quickly bounced back as buyers rushed in.