Raymond’s associate company -- J. K Investo Trade (India) (JKIT) has entered into an Agreement For Sale (AFS) with respect to its property admeasuring approximately 78,310 sq. mtrs. located at Village Panchpakhadi, Thane (West) (Property) with Elpis Ventures, an affiliate of Virtuous Retail South Asia Pte.
According to AFS, JKIT has agreed to sell the aforesaid property for a consideration of Rs 700 crore subject to payment of taxes, cost of approvals, as applicable and terms & conditions set out in the AFS.
Raymond is one of India’s largest branded fabric and fashion retailers. It is one of the leading, integrated producers of suiting fabric in the world.