Raymond Ltd. announced on Thursday the demerger of its lifestyle business to Raymond Consumer Care Ltd, which plans to list separately and focus on becoming pure play business-to-consumer lifestyle business that would enable it to attain the net debt free status. Consequent upon sale of the FMCG business, the company said the promoter would deploy the entire proceeds of this transaction into the lifestyle business.
Post the demerger, Raymond and Raymond Lifestyle Business will be the two listed entities of the group.