Thank you. As per exchange intimation today, there is going to be a 3rd listed entity.
Post demerger of Raymond Lifestyle, the Raymond Ltd wants to demerge the real estate division into a new (to be listed) company called Raymond Realty Ltd with 1:1 share issue ratio.
Post this, the three companies will have the following businesses
- Raymond Ltd: Engineering business, JV with Denim
- Raymond Realty Ltd: Real Estate business
- Raymond Lifestyle: Textiles, Apparel etc.,
In all likelihood, there could be a 4th company as they already announced carving a separate entity within the engineering business that would focus primarily on A&D sector.
All the above citing enhancing shareholder value. I hope that happens.
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