The demerger process was completed on May 1, and May 14 is the record date for identifying eligible shareholders who will receive equity shares of Raymond Realty.
Shares of textile and real estate player Raymond Ltd. tumbled as much as 66% on Wednesday, May 14, as the stock turned ex-date for the demerger of its real estate business — Raymond Realty Ltd.
Raymond Ltd.'s stock crashed 66.05%, hitting a low of ₹530, compared to its previous close of ₹1,561.30. This sharp fall occurred because the real estate business is no longer factored into Raymond's fundamentals.
Some mobile trading apps may still be showing the unadjusted price of Raymond Ltd., which could explain the perceived 66% drop.
The demerger process was completed on May 1, and May 14 is the record date for identifying eligible shareholders who will receive equity shares of Raymond Realty.
Under the approved scheme, shareholders of Raymond Ltd. will receive one equity share of Raymond Realty for every share held in Raymond Ltd.
Importantly, those holding shares in Raymond Ltd. have not seen a loss in the overall value of their holdings, as the share price has been adjusted post-demerger. Going forward, these investors will hold equity in both Raymond Ltd. and Raymond Realty, which will operate as an independent entity.
Raymond Realty is expected to be listed in the September quarter of FY26. The demerger is part of Raymond Group’s broader strategic overhaul, aimed at unlocking value by creating focused verticals.
In the last quarter of FY25, Raymond Realty posted a booking value of ₹636 crore, driven by projects such as The Address by GS 2.0, Invictus, Park Avenue – High Street Retail in Thane, and the JDA project The Address by GS in Bandra. The business reported a revenue of ₹766 crore, marking a 13% increase year-on-year. EBITDA stood at ₹194 crore, with a margin of 25.3%.
Previously, Raymond also demerged its lifestyle business - Raymond Lifestyle, which was listed on stock exchanges in September 2024.
