 "Raymond surges 19% on plans to list demerged Lifestyle biz, pare debt")
Shares of Raymond soared 18.9 per cent to Rs 801.10 on the BSE in intra-day trade on Friday after the company announced its plan to demerge its core Lifestyle business and list it as a separate entity. Furthermore, the company announced to use the entire net proceeds from sale of land parcel by JKIT (its Associate Company) for deleveraging of its Balance Sheet.
"In continuation of its transformational journey of value creation, Raymond Limited on Thursday announced the demerger of its core Lifestyle Business into a separate entity that will be listed through mirror shareholding structure. Every shareholder of Raymond Ltd.
