Raymond Latest News: Shares of Raymond Ltd. saw wild swings in trade on Thursday as the company turned ex-date for the demerger of its lifestyle arm, Raymond Lifestyle Ltd. The counter hit a 5% lower circuit in early trade and later recovered to hit a 5% upper circuit. Raymond Lifestyle will issue and allot four fully paid-up equity shares with face value of Rs 2 apiece for every five Raymond shares of Rs 10 each. The record date for the spin off is also July 11. Raymond is also planning to demerge its growing realty business as well. 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 it, Raymond said. The current promoter ownership of the Mumbai-based garment maker is 49.01%.
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