Shares of Raymond gained 8.6 per cent to touch an intraday high of Rs 2180.85 on the BSE on Tuesday after the fabric and fashion retailer confirmed the news of the separate demerger and listings of its realty and lifestyle businesses.
“Raymond Limited has demerged its lifestyle business to Raymond Lifestyle Limited (RLL) through a Composite Scheme of Arrangement and as per the said Scheme shares of RLL are expected to be listed soon,” the company’s exchange filing read.
It added that the company’s board of directors has approved the scheme of arrangement for the demerger of its realty business to Raymond Realty Limited (RRL), and the demerged entity will be listed on stock exchanges. A timeline for its listing has not yet been disclosed by the company.
That apart, the demerger of the group’s lifestyle business was completed on June 30, 2024, the company said, while adding that Raymond Lifestyle’s listing is expected to happen in the second quarter of this year.
During the quarter that ended on June 30, 2023, a scheme of demerger for the lifestyle business of Raymond into Raymond Lifestyle was approved by the company’s board.
Once the demerger and listing of the three entities is completed, there will be three listed companies in the Raymond Group, that is Raymond, Raymond Lifestyle and Raymond Realty.
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