Soon Raymond Lifestyle will list separately. Can you take us through the journey and the thought process? As you're aware, Raymond previously operated three distinct businesses, resulting in a substantial holding company discount. With a long-term vision, I aimed to create separate businesses with independent management, governance, and reward structures. Following the sale of our fast-moving consumer goods (FMCG) business, we repaid our debt and became cash surplus. We then initiated a two-phase demerger process.
First, we announced the demerger of our lifestyle business, and second, we plan to demerge our realty business next year.
This strategic move will unlock value by allowing like-for-like comparisons. Within Raymond Lifestyle, our wedding collection business can be compared to Manyavar (Vedant Fashions), our apparel business to Aditya Birla Fashion & Retail (ABRL), and our export business to Gokaldas. This clarity will enable investors to assess each business's true potential.
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