Raymond jumps 7% after demerger, listing of realty business receives 'no objection' letter from BSE, NSE

Shares of Raymond surged over 7 percent to Rs 1,535 apiece on November 22, following the receipt of a 'no objection' letter from BSE and NSE for the demerger and listing of its realty business, Raymond Realty. This milestone comes two months after the company completed the demerger of its lifestyle business, marking another restructuring within the Raymond Group.

The board had approved the demerger of Raymond and Raymond Realty on July 4, 2024, as part of a strategy to unlock value across its businesses. Post-demerger, both entities will operate as separate listed companies. Upon receiving shareholder and regulatory approvals, Raymond Realty will be listed on the BSE and NSE, giving investors direct exposure to the company’s real estate business.

As per the scheme of arrangement, 6.65 crore shares of Raymond Realty, with a face value of Rs 10 per share, will be issued to shareholders. For every share held in the parent company, shareholders will receive one share of Raymond Realty, aligning with the group’s focus on equitable value creation.

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