Raymond Lifestyle Ltd Shares Surge Post-Demerger Listing

Raymond Lifestyle Ltd got listed on stock exchanges post-demerger of its retail and lifestyle businesses. Starting at Rs 3,000 on BSE, the stock later hit the lower circuit level at Rs 2,850. Raymond plans to add 900 outlets in three years and aims for 15% CAGR targeting a 7% market share in men's wedding wear by 2027.

Shares of Raymond Lifestyle Ltd were listed on stock exchanges Thursday, following the demerger of its retail and lifestyle businesses.

Initially valued at Rs 3,000 on the BSE, the stock eventually fell to Rs 2,850, hitting the lower circuit level. Similarly, at the NSE, it started at Rs 3,020 but later hit a lower circuit limit of Rs 2,869.

The market valuation reached Rs 17,363.23 crore during early trading. The company, which aims to become one of the top three global fabric suppliers by year-end, plans to add 900 outlets over the next three years. It also eyes a 15 per cent CAGR to secure around a 7 percent market share in the men's wedding wear sector by 2027.

(With inputs from agencies.)