The Committee of Board of Raymond has approved the issue of Non-Convertible Debentures for an amount up to Rs. 100 crore on Private Placement basis; and issue of Commercial Papers for an amount up to Rs. 50 crore.

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Raymond will hold a meeting of the Board of Directors of the Company on 10 November 2020.

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Raymond announced the reinforcement of its management team at Raymond Lifestyle with the appointment of Joe Kuruvilla as the ChiefExecutive Officer. Joe was till recently the Vice President - Digital Transformation, Media and ECommerce for East Europe at Unilever PLC. The recently appointed Chief Operating Officer, Ganesh Kumar will report to Joe and work with Joe to execute the transformation agenda for the business as it emerges from the nationwide lockdown due to the global pandemic.

Raymond Lifestyle is the flagship division of the company which includes branded textile and apparel business including brands like Park Avenue, Colour Plus, Parx, ethnix and Khadi and one of the largest distribution network in the country. Joe will drive strategy, vision, and Product portfolio enhancement for Raymond Lifestyle. Global market development will also be a key area of focus for him. Further, he will be responsible for digital adoption, and alignment to emerging consumer needs while Ganesh Kumar will continue to focus on internal organization, omni-channel distribution, driving operational efficiencies and enhanced process alignment. Ganesh will also lead the Fabrics & Garmenting businesses.

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Raymond announced that a portion of an Office building at the company premises at P.O. Jekegram, Pokharan Road No. 1, Thane (West) has been affected by fire. The fire has been contained by the Fire Officers & Regional Disaster Management Cell Officials and the damage is beingassessed. There are no injuries or casualties.

The affected building is adequately insured and business of the Company continues normally.

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