Raymond Lifestyle, a company of Raymond Group, has made a great debut in the stock market. Shares of Raymond Lifestyle have been listed on the Bombay Stock Exchange at Rs 3000 with a premium of 99.5 percent. The base price of the company’s shares on BSE was Rs 1503.3 per share. At the same time, shares of Raymond Lifestyle have been listed on the National Stock Exchange (NSE) at Rs 3020 with a premium of 93 percent. The base price of the company’s shares on NSE was Rs 1562.6.
For every 5 shares of Raymond, you get 4 shares of Raymond Lifestyle
Gautam Singhania-led Raymond Limited had separated its consumer lifestyle business. After the demerger, Raymond Lifestyle will have 4 major segments – wedding and ethnic wear, garments export, branded apparel and textile. Raymond Lifestyle was demerged from its parent company Raymond Limited. Shareholders were given 4 shares of Raymond Lifestyle with a face value of Rs 2 for every 5 shares of parent company Raymond Limited with a face value of Rs 5. After the demerger, now two companies of the group, Raymond and Raymond Lifestyle, have been listed.
1 lakh rupees turned into 33 lakh rupees, this multibagger rose by more than 3100%
Shares tumbled after a strong opening
Raymond Lifestyle has been listed on both BSE and NSE exchanges with a gain of more than 90 percent. After a great start, the company’s shares have fallen. Raymond Lifestyle shares have fallen by 5 percent to Rs 2850 on BSE. At the same time, Raymond Lifestyle has reached Rs 2869 with a lower circuit of 5 percent on the National Stock Exchange. The company’s market cap has reached Rs 17,478.99 crore. Shares of parent company Raymond Limited are witnessing a decline. Shares of Raymond Limited are trading at Rs 2030.40 on Thursday with a decline of more than 2 percent. The 52-week high level of Raymond Limited shares is Rs 3493.
The IPO was priced at ₹40 and as soon as it was listed today, investors rushed to buy it and became rich on the very first day
