Raymond approved the issuance of ₹66.57 lakh convertible warrants to promoter group entity JK Investors at ₹497 per warrant, aggregating around ₹330.88 crore. The warrants can be converted into equity shares within 18 months. Post full conversion, JK Investors' stake in Raymond is expected to increase from 29.83% to 36.21% on fully diluted basis.