The company will soon file the application with National Company Law Tribunal to progress its pursuit towards unlocking value of its lifestyle business by demerger of the business into the Resulting Company, thereby listing the lifestyle business separately through a standalone entity. Raymond, the demerged company, will continue its focus on sharply growing its key verticals of real estate and engineering (includes the recently acquire aersopace & defense and electric vehicle components businesses amongst others).
This land will be strategically employed for the establishment of both a solar power facility and a wind energy installation. These sustainable energy sources will be harnessed to generate electricity, which, in turn, will be utilised for the production of green hydrogen via water electrolysis, all within the confines of the same property.
The Board also approved increase in authorised share capital from Rs 30 crore to Rs 60 crore.