Shares of Raymond Limited saw a positive uptick in early trading on Thursday as the stock exchanges BSE and NSE approved the company’s proposed demerger with Raymond Realty Limited.
Key Developments:
- The approval came in the form of “No adverse observation/ No objection” letters, issued by the stock exchanges on November 21, 2024, under Regulation 37 of the Listing Regulations.
- The company confirmed the development in an exchange filing, stating that this marks an important milestone in the demerger process.
Stock Performance:
- As of 9:30 AM, Raymond’s shares were trading 1.08% higher at ₹1,442.25 on the NSE, reflecting investor optimism following the regulatory approval.
Impact of Demerger:
The demerger aims to unlock value for shareholders by separating the core textile and lifestyle business from the real estate division, enabling both entities to focus on their respective growth strategies.
Outlook:
With the regulatory approvals in place, Raymond is expected to proceed with the next steps of the demerger process. The move is seen as a strategic step toward creating focused businesses that can independently leverage opportunities in their respective sectors.
