Raymond Limited (RL) has announced the vertical demerger of its Real Estate (RE) Business.
- RE business will be first demerged into its wholly owned subsidiary, Raymond Realty Limited (RRL).
- Upon completion of this demerger, Raymond Ltd and Raymond Realty Limited (RRL) will operate as separate listed entities within the Raymond Group post all statutory approvals.
- The new entity will seek automatic listing on stock exchanges and according to the scheme of arrangement, each RLÂ shareholder will receive 1 share of RRL for every 1 share held in RL.
The demerger of the group’s lifestyle business into RLL was completed on June 30, 2024.
RLL’s listing is expected to happen in the second quarter of this year.
Demerger process of RE business is underway, post which the listing will happen at a later date. Timelines for the same are unclear as of now.