Raymond's shares experienced a significant increase of over 7% to Rs 1,535 on November 22. This surge was a result of the company receiving a 'no objection' letter from both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) regarding the demerger and listing of its realty business, Raymond Realty.

This development follows the completion of the demerger of Raymond's lifestyle business two months ago, which was a significant restructuring move for the Raymond Group. The demerger was approved by the board on July 4, 2024, as part of a strategy to unlock value across the company's businesses.

After obtaining the necessary approvals from shareholders and regulators, Raymond Realty will operate as a separate listed entity, providing investors with direct exposure to the company's real estate operations. As per the scheme of arrangement, shareholders will receive one share of Raymond Realty for every share held in the parent company. This will be done by issuing 6.65 crore shares of Raymond Realty, each with a face value of Rs 10, to the shareholders.