Raymond Unveils New Chapter with Demerger of Real Estate Business
Raymond announces vertical demerger of its real estate business into Raymond Realty, paving way for separate listing on stock exchanges.
Real EstateDemergerRaymondRaymond RealtyStock ExchangeReal Estate NewsJul 04, 2024
Upon completion of the demerger, Raymond and Raymond Realty (RRL) will operate as separate listed entities within the Raymond Group, subject to all statutory approvals. As per the scheme of arrangement, each Raymond (RL) shareholder will receive 1 share of RRL for every 1 share held in Raymond.
The real estate business has achieved significant scale, reporting revenue of Rs 1,593 crore, representing a 43% year-over-year growth, and EBITDA of Rs 370 crore in FY24. With a strong foundation in place, Raymond Realty is well-positioned to explore new opportunities and drive growth in the real estate sector.
Raymond Realty has a significant land bank of 100 acres in Thane, providing a robust platform for future development. The demerger is expected to benefit both entities, enabling them to focus on their respective core businesses and create value for shareholders.
This move is a testament to Raymond's commitment to creating a robust and sustainable business model, with a focus on driving growth and delivering value to stakeholders.
Information
Raymond is a leading Indian textile and apparel company with a rich history dating back to 1925. Over the years, the company has diversified into various businesses, including real estate, engineering, and prophylactics.
Raymond Limited is a leading Indian conglomerate with a presence in various sectors, including textiles, apparel, real estate, engineering, and prophylactics. The company has a rich history and a strong commitment to delivering value to its stakeholders.
Frequently Asked Questions
What is the nature of the demerger announced by Raymond?
The demerger is a vertical demerger of Raymond's real estate business into its wholly-owned subsidiary, Raymond Realty (RRL).
What will be the impact of the demerger on Raymond's shareholders?
Each Raymond (RL) shareholder will receive 1 share of RRL for every 1 share held in Raymond, providing them with a stake in the newly listed entity.
What is the current scale of Raymond's real estate business?
The real estate business has reported revenue of Rs 1,593 crore, representing a 43% year-over-year growth, and EBITDA of Rs 370 crore in FY24.
What is the land bank of Raymond Realty?
Raymond Realty has a significant land bank of 100 acres in Thane, providing a robust platform for future development.
What is the expected benefit of the demerger?
The demerger is expected to benefit both entities, enabling them to focus on their respective core businesses and create value for shareholders.
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