Raymond Ltd has confirmed plans to split into three separate listed entities, as revealed in a clarification statement today. The company’s lifestyle business has already been demerged into Raymond Lifestyle Ltd (RLL), with its listing expected soon. Additionally, Raymond’s board approved a scheme on July 4, 2024, to demerge its realty business into Raymond Realty Ltd (RRL), which will also seek listing after regulatory approvals.
The shares of Raymond Ltd are trading at ₹2,120.20, up by ₹112.70 0r 5.61 per cent on the NSE today at 2.45 pm.
Upon completion of these arrangements, the Raymond Group will comprise three listed companies: Raymond Ltd, Raymond Lifestyle Ltd, and Raymond Realty Ltd. Raymond Ltd clarified that recent share price movements are market-driven and beyond the company’s control. The firm emphasised its continued adherence to listing regulations, particularly regarding price-sensitive information disclosures.
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Published on September 3, 2024
https://www.thehindubusinessline.com/markets/stock-markets/raymond-group-set-for-three-way-split-awaits-listings/article68600354.ece
