NCLT approves Raymond's plan to demerge real estate business
National Company Law Tribunal (NCLT) has approved the demerger scheme of Raymond Ltd, paving the way for the reorganisation of its real estate business into a separate entity, Raymond Realty.
The move is aimed at unlocking the growth potential of the group's real estate vertical and attract strategic investors. Raymond Ltd, the demerged company, will transfer its real estate assets and operations to Raymond Realty Limited, the resulting company, effective from April 1, 2025.
As part of the scheme of this demerger exercise, existing Raymond shareholders will be receiving one equity share of Raymond Realty for every share held in Raymond Ltd.
Post-demerger, Raymond Realty's equity shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), providing shareholders with investment flexibility in two distinct entities.
The tribunal’s Mumbai bench delivered its order on Thursday, endorsing the proposal under Sections 230 and 232 of the Companies Act, 2013.
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