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Raymond pumps in Rs 62 crore in RLCL; appoints new CFO
18
Nov '15
One of India's largest branded fabric and fashion retailers, Raymond has pumped in Rs 61.68 crore in Raymond Luxury Cottons Ltd (RLCL) by subscribing to equity shares, the company informed BSE in a filing.

Raymond has subscribed to 6.16 crore shares of Rs 10 face value and post allotment its equity share capital of RLCL now stands at Rs 127.68 crore constituting 75.69 per cent of the equity capital.

"RLCL has allotted the equity shares and the investment of Raymond Limited in the equity share capital of RLCL now stands at Rs 127.68 crore constituting 75.69 per cent of the equity capital," Raymond Ltd said in the BSE filing.

In a separate filing, Raymond said that it has appointed Sanjay Bahl as Chief Financial Officer (CFO) of the company after teh resignation of M Shivkumar. Bahl, a chartered accountant has over 25 years of experience in FMCG, fertilisers, construction products and retail. (SH)

Fibre2Fashion News Desk – India

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