Results for: Raymond

Textile and apparel giant Raymond Ltd announced the demerger of its real estate arm, Raymond Realty Ltd, to unlock its growth potential and attract new investors. The demerger will see Raymond shareholders receiving one share of Raymond Realty for every Raymond share they hold. Raymond Realty, with a revenue of Rs 1,593 crore in the last fiscal year, boasts a 100-acre land bank in Thane with ongoing projects valued at Rs 9,000 crore. The company also recently launched its first joint development agreement project (JDA) in Mumbai.

Institutional Investor Advisory Services (IiAS) has recommended that shareholders of Raymond vote against the reappointment of Gautam Singhania as CMD due to his ongoing divorce proceedings and serious allegations against him. The firm also calls for the removal of both Singhania and his estranged wife, Nawaz Modi, from their positions until the dispute is resolved.