In continuation of its transformational journey of value creation, Raymond Ltd. announced the demerger of its core Lifestyle Business into a separate entity that will be listed through mirror shareholding structure. Every shareholder of Raymond will be issued the shares of the new company in the ratio of 1:1. The move will create a clear demarcation of Lifestyle and other businesses leading to the simplification of the group structure.
In another development, Raymond announced the allotment of Equity Shares and Compulsorily Convertible Preference Shares (CCPS) to JKIT, an associate company against the infusion of net proceeds of JKIT land sale that was announced in October 2019. A total of Rs. 350 crores will be used to repay the debt thus deleveraging the balance sheet of Raymond Ltd.
Esta historia es de la edición November 2019 de The Textile magazine.
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Esta historia es de la edición November 2019 de The Textile magazine.
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