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Raymond Lifestyle Debuts at 99% Premium on BSE Listing

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Synopsis:

 Raymond Lifestyle listed at Rs 3,000 on BSE, a 99% premium. The demerger of its consumer lifestyle business positions it for growth in branded apparel, textiles, and ethnic wear.

Shares of Raymond Lifestyle Ltd. made an impressive debut on the Bombay Stock Exchange (BSE) on Thursday, listing at ₹3,000 per share, a premium of 99.5% over its base price of ₹1,503.3. On the National Stock Exchange (NSE), the stock opened at ₹3,020, a 93% premium against its base price of ₹1,562.6.

This debut follows the demerger of Raymond Ltd.'s consumer lifestyle business, which was spun off to create Raymond Lifestyle. The demerger granted shareholders four shares of Raymond Lifestyle for every five shares held in the parent company.

The new entity focuses on four key segments: wedding and ethnic wear, garment exports, branded apparel, and textiles. Despite an 8% dip in lifestyle revenue and an 18% drop in textile sales during the first quarter of the current fiscal year, Raymond Ltd. anticipates a 15% year-on-year revenue growth post-demerger.

Gautam Hari Singhania, Raymond Ltd.'s Managing Director, emphasized plans to open 800-900 apparel and textile stores over the next three years. Ethnix, its ethnic clothing brand, will lead the expansion with 100 new stores planned for this year.

The demerger aligns with Raymond’s broader strategy to grow its top line by 15% and improve EBITDA by 20% year-on-year, while also pursuing opportunities in the real estate sector, which is poised for its own vertical split.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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