Board of Raymond approves acquisition of Ray Global Consumer Enterprise

At meeting held on 03 May 2024

The Board of Raymond at its meeting held on 03 May 2024 has approved the acquisition of 50,000 equity shares of Rs 10/- each of Ray Global Consumer Enterprise (RGCEL) from Ray Global Consumer Products (RGCPL), for an amount aggregating to Rs 5 lakhs (together referred to as 'Transaction'). Consequent to the Transaction, RGCEL will become a direct wholly owned subsidiary of the Company. The transaction facilitates the restructuring of the company's aerospace business.

RGCEL is a wholly owned subsidiary of RGCPL. Further, RGCPL is a wholly owned subsidiary of Ray Global Consumer Trading , an associate company of the Company.

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