Raymond has received the approval of National Company Law Tribunal, Mumbai on 21 June 2024 for the composite scheme of arrangement of Raymond (demerged company) and Raymond Lifestyle (formerly known as Raymond Consumer Care) (transferee company) and Ray Global Consumer Trading (transferor company).
The scheme envisages demerger of lifestyle business carried on by the Company through itself and its subsidiaries into RLL and the consequent issuance of equity shares by RLL to all the shareholders of RL in the manner provided for in the scheme. Further, equity shares of RLL will be listed on the stock exchanges.