| Raymond announced that BSE and NSE, vide their letters dated 01 December 2023, have issued their observation letters with ‘No adverse
observation/ No objection', to the proposed scheme of arrangement of
Raymond (demerged company) and Raymond Consumer Care (resulting company or transferee company) and Ray Global Consumer Trading (transferor company) and their respective shareholders (Scheme).
The company will soon file the application with National Company Law Tribunal to progress its pursuit towards unlocking value of its lifestyle business by demerger of the business into the Resulting Company, thereby listing the lifestyle business separately through a standalone entity. Raymond, the demerged company, will continue its focus on sharply growing its key verticals of real estate and engineering (includes the recently acquire aersopace & defense and electric vehicle components businesses amongst others). |