Raymond Shares Surge 18% On Plans To Demerge Real Estate Business

“Having stated that now we have clear three vectors of growth at Raymond group i.e. Lifestyle, Real Estate and Engineering, this corporate action is in line with creating shareholder value creation,” said Gautam Hari Singhania, Chairman and Managing Director of Raymond Limited.He added, this strategy to demerge the real estate business into a separate company that will be listed through automatic route is another step to enhance the shareholder value. The existing shareholders of Raymond Limited will get the shares in the new listed real estate company in a ratio of 1:1. The separation of the business will help in specializing XXX. Along with this it will also help investors with varied interests to invest in different entities focusing in different businesses. Once the demerger is complete the equity shares of Raymond Realty will be listed on BSE and NSE. On year-to-date, the shares of the company have delivered a return of 85.91 per cent on the National Stock Exchange as of July 5, 2024.

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