Shares of Raymond Ltd. will be in focus on Tuesday, as it marks the last session for investors to buy shares under the T+1 settlement cycle to qualify for receiving equity in the demerged realty business Raymond Realty Ltd.
The demerger ratio is set at 1:1. As per the scheme, one fully paid-up share of a face value of Rs 10 of Raymond Realty will be given for every share held in the parent firm Raymond.
The record date, which has been set at May 14, will determine the eligible shareholders for the spin-off. The ex-date, which coincides with the record date, marks when the share price adjusts to reflect the split. Hence, on Wednesday, Raymond shares will move notably.
Given India's T+1 settlement cycle, shares purchased on the record date (May 14 in this case) will not be eligible for the spinoff scheme. Therefore, investors who own shares only by May 13 will be the beneficiaries.
About Raymond Realty Demerger
Raymond announced the demerger of the real estate division in July 2024. The National Company Law Tribunal approved the plan in March, and the demerger came into effect on May 1.
Raymond Realty shares will be listed on both the NSE and the BSE and will trade as a completely standalone entity. The date of listing will be intimated by Raymond later.
The demerger plan aims to exploit the growth potential of the real estate business and attract a fresh set of investors and strategic partners to participate in the real estate business, according to Gautam Singhania-led Raymond.
Raymond Realty has a strong outlook with a land bank of 100 acres, offering potential revenue of Rs 25,000 crore. The company also has joint development assets worth Rs 7,000 crore in the Mumbai area.
It targets 20-25% growth in booking value and plans to expand through a capital-light business model via Joint Development Agreements (JDA). Additionally, Raymond Realty maintains a net cash balance sheet, positioning it for future growth and development.
Shares of Raymond closed 8.12% higher at Rs 1,574 apiece on Monday, as compared to a 3.74% gain in the benchmark BSE Sensex.
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