Raymond gains as its arm subscribes partnership interest in `New Mumbai Realty LLP`
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Raymond is currently trading at Rs. 1829.65, up by 11.70 points or 0.64 % from its previous closing of Rs. 1817.95 on the BSE.
The scrip opened at Rs. 1821.00 and has touched a high and low of Rs. 1835.00 and Rs. 1813.65 respectively. So far 7746 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1852.25 on 10-Jul-2023 and a 52 week low of Rs. 917.40 on 27-Jul-2022.
Last one week high and low of the scrip stood at Rs. 1852.25 and Rs. 1731.05 respectively. The current market cap of the company is Rs. 12171.34 crore.
The promoters holding in the company stood at 49.15%, while Institutions and Non-Institutions held 21.82% and 29.03% respectively.
Raymond’s stepdown wholly owned subsidiary-- Ten X Realty has subscribed to a partnership interest in ‘New Mumbai Realty LLP’ (Target Entity). The Target Entity has been incorporated on July 12, 2023 and is yet to commence business activities. The objective of acquisition is to undertake real estate business.
Cost of acquisition is Rs 1 lakh by Ten X Realty, step-down wholly owned subsidiary of the Company, by way of capital contribution.
Raymond is one of India’s largest branded fabric and fashion retailers. It is one of the leading, integrated producers of suiting fabric in the world.
