The objective of the demerger plan is to "exploit the growth potential of the real estate business and attract a new group of investors/strategic partners to participate in the real estate business, with a view to consolidating the entire real estate business of the group under a single entity." Is proposed." ", the company said in a filing to stock exchanges.
As per the demerger terms, shareholders of Raymond Limited will receive one equity share of Raymond Realty for each share of Raymond. The demerged entity will be listed on the Bombay Stock Exchange and the National Stock Exchange.
"This strategic move comes as Raymond's real estate business has achieved revenues of Rs 1,593 crore (growth of 43 per cent YoY). Raymond Realty owns 100 acres of land in Thane, of which about 40 acres is Currently under development are five ongoing projects worth Rs 9,000 crore on Thane land, with an additional potential of generating over Rs 25,000 crore from this land bank, Raymond said in a press statement. The total potential revenue will be Rs.
Recently, Raymond Realty launched its first Joint Development Agreement (JDA) project in Bandra, Mumbai.
Additionally, Raymond has signed three new agreements at Mahim, Sion and another agreement at Bandra East, Mumbai, taking the combined revenue potential from the four JDA projects in the Mumbai Metropolitan Region to over Rs 7,000 crore, the statement said Has been.
Gautam Hari Singhania, Chairman-cum-Managing Director, Raymond Limited, said: "Now that we have three clear drivers of growth in the Raymond Group i.e. Lifestyle, Real Estate and Engineering, this corporate action is in line with creating shareholder value."
As per the demerger terms, shareholders of Raymond Limited will receive one equity share of Raymond Realty for each share of Raymond. The demerged entity will be listed on the Bombay Stock Exchange and the National Stock Exchange.
"This strategic move comes as Raymond's real estate business has achieved revenues of Rs 1,593 crore (growth of 43 per cent YoY). Raymond Realty owns 100 acres of land in Thane, of which about 40 acres is Currently under development are five ongoing projects worth Rs 9,000 crore on Thane land, with an additional potential of generating over Rs 25,000 crore from this land bank, Raymond said in a press statement. The total potential revenue will be Rs.
Recently, Raymond Realty launched its first Joint Development Agreement (JDA) project in Bandra, Mumbai.
Additionally, Raymond has signed three new agreements at Mahim, Sion and another agreement at Bandra East, Mumbai, taking the combined revenue potential from the four JDA projects in the Mumbai Metropolitan Region to over Rs 7,000 crore, the statement said Has been.
Gautam Hari Singhania, Chairman-cum-Managing Director, Raymond Limited, said: "Now that we have three clear drivers of growth in the Raymond Group i.e. Lifestyle, Real Estate and Engineering, this corporate action is in line with creating shareholder value."