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S&P
BSE SENSEX
73,889.39
-450.05
-0.61 %
Corporate Announcement
Security Code
500330
Company
Raymond Ltd
Exchange Received Time
25/01/2022 19:53:28
Exchange Disseminated Time
25/01/2022 19:53:28
Time Taken
00:00:00
Intimation Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 |
1/25/2022 7:53:28 PM
This is to inform that the Board of Directors of Raymond Limited ('the Company') at its Meeting held today i.e., January 25, 2022 has approved the Scheme of Arrangement between the Company and Raymond Lifestyle Limited ('RLL'), a wholly-owned subsidiary of the Company pursuant to Sections 230-232 and other relevant provisions of the Companies Act, 2013 and the Rules made thereunder providing for demerger of the Real Estate business undertaking of the Company to RLL on a going concern basis ('the RLL Scheme') in order to exploit the growth potential of the real estate business through focused approach. Details as required in terms of Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, as amended, read with SEBI Circular no. CIR/CFD/CMD/4/2015 dated Sept. 09, 2015 are enclosed.
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