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New Delhi: Shares of Raymond Lifestyle Ltd debuted on Dalal Street today, Thursday, September 5. The entity, separated from Raymond Ltd, was listed at Rs 3,020 on the NSE and commenced trading at Rs 3,000 on the BSE, boasting a market capitalization exceeding Rs 18,200 crore.
Raymond Lifestyle, the newly listed company, encompasses the retail and lifestyle division of Raymond. This listing signifies a step forward in the arrangement scheme previously announced by Raymond, aiming to create three distinct listed entities.
Post-listing, Raymond Lifestyle’s shares traded at Rs 2,850, marking a 5 per cent decline for the day and reaching the lower circuit limit. In contrast, shares of the parent company, Raymond, saw a slight increase to Rs 2,110 at the market opening.
Raymond Lifestyle was carved out from Raymond in July, and since then, the stock has been trading without the lifestyle segment. The separate listing of the lifestyle division is anticipated to enhance shareholder value.
The exchange has notified trading members that starting September 05, 2024, Raymond Lifestyle Ltd’s equity shares (Scrip Code: 544240) are listed and available for trading in the ‘T’ Group Securities category. For more details, refer to notice no. 20240903-15 dated September 03, 2024, as per the BSE statement.
The ‘T’ Group listing indicates that intraday transactions are not allowed; investors must take delivery of the shares before selling. The circuit filter is set at 5 per cent for the first 10 trading sessions for the new listing.
With the listing of Raymond Lifestyle, the Raymond group now has two publicly traded companies. Additionally, on July 4, the Raymond board approved the demerger plan for its real estate business into Raymond Realty, which will be listed on the stock exchanges following the completion of the demerger process.
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