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As part of this restructuring process, Raymond will demerge its lifestyle business into Raymond Lifestyle. Ray Global Consumer Trading will be amalgamated into Raymond Lifestyle to streamline the group structure.
The group’s restructuring will help in paving the way for a more focused and streamlined corporate structure.
Once the restructuring scheme becomes effective, shareholders of Raymond will receive four equity shares of Raymond Lifestyle for every five shares held in Raymond while the shareholders of Ray Global Consumer Trading will receive two equity shares of Raymond Lifestyle for each share held in Ray Global Consumer Trading.
Equity shares of Raymond Lifestyle will be listed on the stock exchanges.Also read: Mazagon Dock shares surge over 4% amid talks of Rs 35,000 crore deal with Ministry of DefenceThe textile and lifestyle segments of the company have grown significantly, warranting independent management and operations. The separation is expected to enable focused management of each business vertical, enhance operational synergies, and streamline the corporate structure.The appointed date for the demerger is set as April 1, 2023, and the effective date will follow the filing of the NCLT order with the respective Registrar of Companies (ROC).
This restructuring is likely to help position Raymond Lifestyle as a key player in the consumer goods sector, with a distinct focus on lifestyle products and fast-moving consumer goods markets.
Shares of Raymond have been reaping good returns for its investors as they have increased by 56% in the last one year, while in the current calendar year alone, the shares have gained 50%.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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