Raymond Unveils Demerger of Real Estate Business into Raymond Realty
Raymond to operate as separate listed entities with wholly-owned subsidiary Raymond Realty, post statutory approvals.
DemergerReal EstateRaymond GroupRaymond RealtyStock ExchangesReal Estate MumbaiJul 04, 2024
The newly formed entity, Raymond Realty, will seek automatic listing on stock exchanges. As part of the scheme of arrangement, each Raymond (RL) shareholder will receive 1 share of RRL for every 1 share held in Raymond.
This move comes as Raymond's Real Estate Business has achieved significant scale, reporting revenue of Rs 1,593 crore (43% YoY growth) and EBITDA of Rs 370 crore in FY24. The business is now well-positioned to chart its own growth path as a separate entity. Raymond Realty boasts 100 acres of land in Thane, and with its independent listing, it is expected to unlock value for shareholders.
Information
Raymond is a diversified group with a presence in textiles, apparel, and real estate. The group has a rich history dating back to 1925 and has been a pioneer in the Indian textile industry.
Raymond is a leading Indian lifestyle brand with a diversified presence across textiles, apparel, and real estate. With a rich history of over 90 years, Raymond has been a pioneer in the Indian textile industry and has evolved over the years to become a well-known brand in the fashion and lifestyle space.
Frequently Asked Questions
What is the reason behind Raymond's demerger of its Real Estate Business?
The demerger is a strategic move to unlock value for shareholders as the Real Estate Business has achieved significant scale and is now well-positioned to chart its own growth path as a separate entity.
What is the scheme of arrangement for the demerger?
Each Raymond (RL) shareholder will receive 1 share of RRL for every 1 share held in Raymond.
How much revenue and EBITDA did Raymond's Real Estate Business report in FY24?
The business reported revenue of Rs 1,593 crore (43% YoY growth) and EBITDA of Rs 370 crore in FY24.
How much land does Raymond Realty have in Thane?
Raymond Realty has 100 acres of land in Thane.
What is the expected outcome of the demerger for shareholders?
The demerger is expected to unlock value for shareholders as Raymond Realty will operate as a separate listed entity, allowing it to chart its own growth path.
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