Raymond Limited announced that at the meeting of the committee of the board of directors of the company held on January 21, 2021, it approved the Issue of Non-Convertible Debentures for an amount up to INR 2 billion on Private Placement basis. The debentures are proposed to be listed on the National Stock Exchange of India Limited. Tenure of instrument: 3652 days from the Deemed Date of Allotment. The deemed date of allotment and date of maturity will be finalized post fullfilment of Conditions Precedent to the issue. The floor rate will be 9% p.a. payable annually. The NCDs shall be secured by a first pari passu charge on the Immovable fixed assets of 2 times on market value. In case of Default in repayment of Interest and /or principal redemption on due dates, additional interest of 2.00% p.a. over the coupon rate will be payable by the Company for the defaulting period.