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Raymond Lifestyle Shares Hit ₹3,020 on Debut, Fall 5% Early On

Raymond Lifestyle shares debuted on Dalal Street at Rs 3,020, dropping 5% post-listing. The demerged entity focuses on retail, with restrictions on intraday trading and a 5% circuit filter.

Raymond Lifestyle shares debuted on Dalal Street on Thursday, September 5, 2024, opening at Rs 3,020 on the NSE and Rs 3,000 on the BSE. The company, demerged from Raymond Ltd, began trading with a market capitalization exceeding Rs 18,200 crore.

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Raymond Lifestyle is the newly listed entity that encompasses the retail and lifestyle business of Raymond. This listing is a step in the company’s broader plan to have three separately listed businesses, in line with its announced scheme of arrangement.

After the initial listing, Raymond Lifestyle shares dropped 5% to Rs 2,850, hitting the lower circuit for the day. Meanwhile, the parent company Raymond saw a marginal increase, with its stock trading at Rs 2,110 at market open.

The demerger occurred in July 2024, and since then, Raymond’s stock has been trading excluding the lifestyle division. The separate listing of Raymond Lifestyle is expected to unlock additional value for shareholders.

Raymond Lifestyle shares have been placed in the ‘T’ Group, which restricts intraday trading. Investors must take delivery of the shares before selling. Additionally, a 5% circuit filter will apply for the first 10 trading sessions to regulate volatility in the newly listed stock.

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