Raymond Lifestyle (RLL), a branded textile and apparel company under the Raymond Group, has appointed Rajiv Sharma as a non-executive director, expanding its board to 10 members, seven of whom are independent directors. Sharma brings with him extensive experience from companies like Coats Group, GE Energy, and Shell.
RLL, which is set to list in early September, owns well-known brands such as Park Avenue, ColorPlus, and Parx. The chairman of RLL, Gautam Hari Singhania, expressed confidence in the board’s expertise to drive growth in various domestic markets like wedding, apparel, and sleepwear segments.
Additionally, the Raymond Group has decided to hive off its real estate business, Raymond Realty (RRL), creating three separate listed entities. The parent firm, Raymond, will now focus on engineering, including tools and hardware, auto components, aerospace, and defense businesses.
Shares of Raymond closed at Rs 2,020, down 2.1 percent, valuing the firm at Rs 13,448 crore. Financial analysis by Motilal Oswal values the real estate business at Rs 8,000 crore, the lifestyle business at Rs 2,340 per share, and the engineering business at Rs 250 per share.
The restructuring within the Raymond Group highlights a strategic shift towards concentrating on specific business verticals and unlocking value for shareholders. With the diverse expertise added to RLL’s board and a clear focus on different business segments, the group is poised for growth and success in the coming years.
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