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India’s Raymond Realty to listing in early July, prime government says, ETCFO
India’s Raymond Realty, lately carved out from the namesake conglomerate, is on monitor to listing in early July because the group appears to be like to streamline its company construction, a prime government advised Reuters on Tuesday.
This might be Raymond’s third publicly traded entity after Raymond Way of life, which homes the fits and shirts enterprise.
“The precise date (for the itemizing) just isn’t confirmed but, however it needs to be early July,” Gautam Singhania, chairman and managing director of the group, mentioned in an interview, with out elaborating.
Every shareholder will obtain one share of Raymond Realty for each share held in Raymond, the group mentioned beforehand.
Raymond accepted the demerger of Raymond Realty on Might 1 and introduced Might 14 because the document date to find out eligible shareholders for the true property enterprise.
The inventory fell round 66% on Might 14 due to a worth adjustment after the demerger, however the decline was not an actual loss for traders, only a technical revision within the share worth.
After adjusting for the demerger, Raymond’s shares jumped almost 23% in Might, their greatest month-to-month achieve since June 2024.
Brokerage Systematix expects Raymond Realty to be priced at 1,076 rupees per share and forecast working revenue of 5.97 billion rupees ($69.7 million) within the ongoing fiscal 2026.
The enterprise reported a forty five% rise in income to 23.13 billion rupees for the monetary 12 months ended March 31, with working revenue up 37% at 5.07 billion rupees.
($1 = 85.6150 Indian rupees)
