Raymond shares rose 8.6 percent to an intraday high of Rs 2180.85 on the BSE on Tuesday, after the fabric and garment retailer confirmed the separate demerger and listing of its real estate and lifestyle companies. As of 3:22 PM, Raymond's shares had increased 5.15 percent, or Rs 103.45, to Rs 2,111.4. At the time, the company's market capitalisation was around Rs 14,063.7 crore.

"Raymond Limited has demerged its lifestyle business to Raymond Lifestyle Limited (RLL) through a Composite Scheme of Arrangement and as per the said Scheme shares of RLL are expected to be listed soon," the company's exchange filing stated.

It also stated that the company's board of directors has authorized the plan of arrangement for the demerger of its real estate business to Raymond Realty Limited (RRL), and the resulting firm will be listed on stock exchanges. The company has not set a timeline for its listing. Apart from that, the demerger of the group's lifestyle division was completed on June 30, 2024, according to the company, with Raymond Lifestyle set to be listed in the second quarter of this year.

During the quarter ending June 30, 2023, the board of directors authorized a demerger plan for Raymond's lifestyle division into Raymond Lifestyle. Once the demerger and listing of the three organizations is completed, the Raymond Group will have three listed companies: Raymond, Raymond Lifestyle, and Raymond Realty.

Raymond Q1FY25

Raymond reported a 26.7% increase in total net profit from continuing operations to Rs 57.04 crore in the first quarter ended June 2024. According to the company's regulatory filings, ongoing operations generated a consolidated net profit of Rs 45.02 crore in the same quarter last year. In the first quarter, revenue from continuing operations totaled Rs 937.65 crore, up from Rs 473.37 crore the previous year. 

Raymond Ltd Share Price History

However, Raymond's shares have dropped 0.78 percent in the last year, while the BSE Sensex has risen by 26.2%.