Raymond to invest Rs 100 crore in Ten X Realty West, Real Estate News, ET RealEstate
NEW DELHI: The board of directors of Raymond have approved to invest an amount up to Rs 100 crore in the form of redeemable preference shares in one or more tranches in Ten X Realty West (TXRWL), a step down wholly owned subsidiary of the company.
The board has also approved to invest an amount up to Rs 50 crore in the form of redeemable preference shares in one or more tranches in Ten X Realty (TXRL), a step down wholly owned subsidiary of the company.
The amount proposed for investment would be utilized for the purpose of execution of redevelopment project by TXRWL and TXRL.
Recently, the board approved the re-appointment of Ashish Kapadia as an independent director of the company for a second term of five years with effect from November 26, 2024. It also approved appointment of Harmohan Sahni as an executive director for a term of five years effective from September 1, 2024. He is currently serving as business CEO (Realty Business) at Raymond.
