Raymond shares slipped to its 52-week low at \u20b9530 per share from Tuesday’s close of \u20b91,561.3 per share, due to demerger. The stock fell 66 per cent in trade as it turned ex-date for the spin-off of Raymond’s real estate business — Raymond Realty. <\/small><\/p>\n\n\n\n
The ex-date for a demerger is the date on which shares of the parent company start trading without the right to receive shares of the demerged (spun-off) company.<\/p>\n\n\n\n
\u00a0<\/small>However, around 11:30 AM,\u00a0Raymond shares\u00a0hit 5 per cent upper circuit at \u20b9556.45 per share on the BSE. In comparison, the\u00a0BSE Sensex\u00a0was up 0.39 per cent at 81,462.23. The market capitalisation of the company stood at \u20b93,704.5 crore. The 52-week high of the stock was at \u20b93,493 per share.<\/p>\n\n\n\n
Raymond’s real estate business demerger<\/p>\n\n\n\n
In July, Raymond proposed to demerge its realty business to unlock the value for shareholders and harness growth potential in the Indian property market.<\/p>\n\n\n\n
Through an exchange filing, the company informed that its board has approved the scheme of arrangement of Raymond Ltd and Raymond Realty Ltd and their respective shareholders. <\/small><\/p>\n\n\n\n
The company also plans to list both companies as separate entities on bourses. <\/small><\/p>\n\n\n\n
Raymond\u00a0received a no objection certificate (NOC) from the BSE and the National Stock Exchange (NSE) for the demerger\u00a0of its real estate business, according to the company\u2019s stock exchange filing on November 21, 2024.<\/p>\n\n\n\n
After the demerger, the new company, Raymond Realty (RRL), will be listed on both the stock exchanges after obtaining the necessary approvals.<\/p>\n\n\n\n
Raymond Realty will issue over 67 million equity shares having a face value of \u20b910 each to the equity shareholders of Raymond, after the demerger. According to the company\u2019s stock exchange filing, \u201cFurther, upon allotment of equity shares by Raymond Realty, the entire pre-scheme paid-up share capital of Raymond Realty held by Raymond shall stand cancelled, and the paid-up share capital of Raymond Realty to that effect shall stand cancelled and reduced, without any consideration.\u201d<\/p>\n\n\n\n
Eqwires Research Analyst<\/a><\/strong><\/p>\n\n\n\n Top-notch SEBI registered research analyst<\/a><\/strong><\/p>\n\n\n\n Best SEBI registered Intraday tips provider <\/a><\/strong><\/p>\n\n\n\n info@eqwires.com<\/strong><\/a><\/p>\n\n\n\n Telegram <\/a>| Facebook <\/a>| Instagram<\/a><\/strong><\/p>\n\n\n\n Call: +91 9624421555 \/ +91 9624461555<\/em><\/strong><\/p>\n\n\n\n www.eqwires.com<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Raymond shares slipped to its 52-week low at \u20b9530 per share from Tuesday’s close of \u20b91,561.3 per share, due to demerger. The stock fell 66 per cent in trade as it turned ex-date for the spin-off of Raymond’s real estate business — Raymond Realty. The ex-date for a demerger is the date on which shares of the parent company start trading without the right to receive shares of the demerged (spun-off) company. \u00a0However, around 11:30 … Continue reading “Why did Raymond shares drop 66% from \u20b91,500 apiece to \u20b9500 in a day?”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":4260,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[74],"tags":[],"class_list":["post-4259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-sebi-registered-advisory-company"],"_links":{"self":[{"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/posts\/4259","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/comments?post=4259"}],"version-history":[{"count":1,"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/posts\/4259\/revisions"}],"predecessor-version":[{"id":4261,"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/posts\/4259\/revisions\/4261"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/media\/4260"}],"wp:attachment":[{"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/media?parent=4259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/categories?post=4259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/tags?post=4259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}