Raymond Realty Approves ₹409 Crore J K Investors Warrant Issue

Board approved issue of 66,57,373 warrants at Rs 614 each for ~Rs 409 Cr to promoter J K Investors, convertible to one share in 18 months; authorised capital raised to Rs 75 Cr. Promoter equity support is novel amid rising leverage from JDA expansion; tests stated equity-as-last-resort stance and provides cushion under leverage ceiling while conversion stays back-ended. Promoter holding rises to 2,65,19,166 shares from 1,98,61,793 on full conversion; subject to shareholder approval with 18-month lapse and forfeiture; use of proceeds not disclosed.