NEW DELHI,: Shares of Raymond Realty Ltd got listed on the stock exchanges on Tuesday post its demerger process.
The stock started trading at Rs 1,005 on the BSE. It later jumped 4.99 per cent to Rs 1,055.20 from the opening price.
At the NSE, the stock got listed at Rs 1,000. Shares of the firm later climbed 5 per cent to Rs 1,050.
Raymond Realty’s market valuation stood at Rs 6,564.84 crore.
Raymond Realty Ltd is one of the leading real estate developers in the country. It is part of the Raymond Group.
After demerging its lifestyle business into a separate listed entity in 2024, Raymond Ltd is carving out real estate vertical into a separate listed entity and will focus only on engineering business.
Raymond Realty will not sign up development deals if it doesn’t see profit margins of at least 20 per cent, the company’s top officials said on Monday.
The entity will launch projects with a gross development value of Rs 6,000 crore to Rs 10,000 crore, they said.
