Raymond to demerge its lifestyle business.

Raymonds, India's largest clothing and accessories company, announces the demerger of its lifestyle business into a separate entity through a mirror shareholding structure. The new entity will house the core branded textile, branded apparel, and garments businesses, and would be separately listed on the bourses after the demerger. The existing listed company will include real estate, land banks, engineering businesses of auto components, and FMCG businesses, among others. After the demerger, every shareholder of Raymond will be issued the shares of the new company in the ratio of 1:1.