Raymond, an India based textile and apparel company, is planning to raise Rs 100 crore in funds through private placement, according to a statement filed by the company with BSE.

The committee of the company’s board of directors will hold a meeting tomorrow to consider and approve the issue of non-convertible debentures worth Rs 100 crore for the funds.

The company had reported a fall of 28 per cent in its net profit in the third quarter of fiscal 2016, ending on December 31, 2015 to Rs 40 crore as compared to Rs 56 crore in the corresponding quarter last fiscal.

Its net sales, on the contrary, increased by 7 per cent in this quarter to Rs 1483 crore as compared to Rs 1382 crore in the corresponding quarter last fiscal.