Shareholder value creation at heart of demerger plan: Gautam Singhania
04-Sep-2024
Shareholder value creation is at the core of Raymond's demerger plans, said Gautam Singhania, chairman and managing director of Raymond. Singhania spoke at a press conference on Tuesday ahead of the listing of its lifestyle business, Raymond Lifestyle, on the bourses.
"Next year, the real estate business demerger is happening. We are one of the best-performing stocks this year," said Singhania. So far in 2024, Raymond has risen 98 per cent and is the fourth-best performer in the Nifty Smallcap 100 after Cochin Shipyard, NBCC India, and Housing and Urban Development Corporation (HUDCO). The stock gained 5.1 per cent on Tuesday after the company confirmed the demerger and listing plans for its lifestyle and realty businesses. The company at present commands a market capitalisation of Rs 14,055 crore.
"I genuinely believe that this business's sum of parts valuation will be exponential. You will see a company that makes fabrics, garments, and branded apparel. Various categories all in one," said Singhania.
News Source:- https://www.business-standard.com/companies/news/shareholder-value-creation-at-the-heart-of-demerger-gautam-singhania-124090301256_1.html
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