Under the terms of the demerger, existing shareholders of Raymond are entitled to receive one share of Raymond Realty for every share held post-listing
Shares of Raymond Realty, the real estate arm of the Raymond Group, made their debut on the stock exchanges at ₹1,000 per share on July 1, slightly below the discovered price of ₹1,039. This listing follows the company's formal demerger from parent firm Raymond, which came into effect in May this year.
As per the terms of the demerger, existing shareholders of Raymond are entitled to receive one share of Raymond Realty for every share held, post-listing.
Despite anticipation, the listing received a muted response from the Street, with the debut price falling short of market expectations. Analysts at SBI Securities had projected a listing range between ₹897–1,430, while Ventura Securities had issued a more bullish estimate of ₹1,383 per share.
In contrast, the parent company’s stock soared over 8% on the day, celebrating the successful debut of its demerged real estate division. This comes on the heels of a 24% gain over the past week, suggesting continued investor optimism around the group's restructuring.
Chairman and Managing Director Gautam Singhania unveiled a fresh strategic roadmap ‘Raymond 2.0,' aimed at repositioning the group as a focused, growth-led enterprise. In a note to shareholders, also filed with the exchanges, Singhania emphasised that the demerger of Raymond Realty and the earlier spin-off of the lifestyle business marked the beginning of a new chapter in the group’s transformation journey.
“This diversified portfolio, combined with our proven execution capabilities, deep global partnerships, and relentless focus on technological advancement, uniquely positions us to grow our order book and deliver sustained high double-digit growth,” Singhania noted.
As part of the ‘Raymond 2.0’ blueprint, the group has now formed three independent, net debt-free, and strategically focused entities. This structural shift is the result of targeted divestments, business realignments, and expansion efforts aimed at unlocking long-term value for shareholders.