Raymond’s stepdown wholly owned subsidiary-- Ten X Realty has subscribed to a partnership interest in ‘New Mumbai Realty LLP’ (Target Entity). The Target Entity has been incorporated on July 12, 2023 and is yet to commence business activities. The objective of acquisition is to undertake real estate business.
Cost of acquisition is Rs 1 lakh by Ten X Realty, step-down wholly owned subsidiary of the Company, by way of capital contribution.
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.
