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Shares of Raymond Ltd. declined the most in over four weeks after it announced the sale of its fast-moving consumer goods business and a demerger of its consumer care and pure-play realty segments. ....
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. ....
Kataria, who was earlier heading Mumbai-based fast moving consumer goods major Godrej Consumer Products Ltd as its chief executive, took charge of his new role today. ....
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