Raymond to invest Rs 301 crore in Ten X Realty, Real Estate News, ET RealEstate

October 4, 2023

NEW DELHI: The board of directors of Raymond have approved to invest an amount up to Rs. 301 crore in one or more tranches in Ten X Realty (TXRL), a step down wholly owned subsidiary of the company.

The company will invest up to Rs 125 crore in the form of redeemable preference shares which would be subject to such terms as may be finally decided and agreed.

Balance amount of Rs. 176 crore will be invested by providing Inter Corporate Deposit (ICD) to TXRL.

As on Ocotber 3, 2023, authorized share capital of TXRL is Rs.75.10 crore divided into 1 lakh equity shares of Rs 10 each and 7.5 crore preference shares of Rs. 10 each.

At present TXRL has undertaken redevelopment of the housing society at Bandra, Mumbai under joint development agreement.

  • Published On Oct 4, 2023 at 04:00 PM IST

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