Can anyone clarify how 2850 crores that FMCG business gets is going into RCCL?
FMCG is currently owned 50% by promoter group (mostly Singhania family) and other 50% by Raymond Ltd & small public holding
Post deal & before de-merger:
FMCG entity has 2850 crores, of which half goes to promoter group and rest mostly belongs to Raymond Ltd, which includes us – shareholders too
Post de-merger:
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Raymond Ltd transfers lifestyle business into FMCG entity (called RCCL), for which all shareholders get 4 shares of RCCL for every 5 shares of Raymond Ltd (us, public shareholders and promoter group)
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Promoter family retains their share in FMCG / RCCL
In the press conference, GS mentioned that promoter family is fully investing their share of 2850 crores into RCCL. If that’s the case, will RCCL get the full 2850 crores and thus even the gross debt of 2022 crores gets paid off and the remaining few hundreds of crores remains in RCCL books?
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