Raymond Demerger Details: Shares of Raymond have seen a surge in the stock markets today. Shares of the company in BSE are Rs. opened at 3035.95. But after some time it rose by 18.42 percent to Rs. It touched an intra-day high of 3484. News related to the demerger has led Raymond’s shares to rise. The company has announced to spin off its real estate business.
Govt’s rule continues, 18% increase in prices due to this news, investors are happy
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The real estate business is diverging
Raymond Limited informed the stock exchange on Thursday that its Board of Directors has approved the scheme of arrangement of Raymond Limited (separate company) and Raymond Realty Limited and their respective shareholders. According to the Scheme of Arrangement, each shareholder of Raymond Limited will receive one share of Raymond Realty for each share of Raymond Limited. After the demerger, Raymond Realty will give equity shareholders of Raymond Limited Rs. 10 will issue 6,65,73,731 equity shares of face value. Let us tell you, it is yet to get the necessary clearance and approval from the adjudicating bench of NCLT.
Boom in real estate business
In the last financial year, the real estate business had an operating income of Rs. 1,592.65 crore, which is 24 percent of Raymond Limited’s total revenue. The company’s revenue has grown by 43 percent year-on-year. Let us tell you that the EBITDA was 370 crore rupees.
Talking about the performance of the shares of Raymond Limited, the share price of this company has increased by 96 percent in the last one year. At the same time, investors who bought the stock a month ago have made a profit of 56 percent so far. Let us tell you that the 52-week low level of Raymond is Rs 1487.
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