Raymond Group has clarified in a statement to stock exchanges on Tuesday, September 3, that as part of the demerger plans of its lifestyle business, shares of Raymond Lifestyle are expected to be listed soon.
Raymond Lifestyle will likely list during the first week of September 2024, said brokerage reports post company’s analyst meet
As already intimated to the Stock Exchanges from time to time, 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.
Further, the Company has intimated to the Stock Exchanges on July 04, 2024, that the Board of Directors have approved the Scheme of Arrangement for demerger of Realty business to Raymond Realty Limited (“RRL”) and the demerged entity RRL will be listed on stock exchanges post obtaining necessary statutory/ regulatory approvals.
The Company has already filed application for grant of NOC under Regulation 37 with both the stock exchanges.
Post completion of all formalities for both the Scheme of Arrangement, there will be three listed entities in the Raymond Group i.e. Raymond Limited, Raymond Lifestyle Limited and Raymond Realty Limited. Therefore, the statement made in the news article merely represent the statement of fact, well available in the public domain.