At the Cusp of a New Beginning Lifestyle | Real Estate | Engineering
In a recent move, Raymond Limited has announced its plan to demerge its "Real Estate Business" into a separate entity which shall be listed pursuant to the demerger. Company"), post demerger of "Lifestyle business is now having Real Estate business and engineering & auto components business ("Engineering Business") through its subsidiaries. The equity shares of RL are listed on nationwide bourses.
In recent past, RL did numerous restructurings to create value for shareholders mainly:
Selling of FMCG business to repay debts
Demerger of Lifestyle Business
Expansion of engineering business by acquisition of 59.25% equity stake in Maini Precision Product Limited for a considerationofINR (Indian Rupees)682 crore.
Now it has embarked on one more demerger of real estate business in its subsidiary and get it listed.
Raymond Realty Limited ("RRL" or "Resulting Company) is a wholly owned subsidiary of RL engaged in real estate business. However, till 31st March 2024, the company has not done any active business.
The Proposed Transaction
The board of directors of RL & RRL have approved a scheme of arrangement which provides for demerger of "Real Estate Business" of RL into RRL.
The Real estate business of RL consists of:
Development of owned land (Circa 100 acres) in Thane
Denne historien er fra August 2024-utgaven av M & A Critique.
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Denne historien er fra August 2024-utgaven av M & A Critique.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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