Raymond has received approval to sell its entire investment in its wholly owned subsidiaries namely; Raymond Apparel (RAL) (name changed to Sanven Apparel – awaiting approval from MCA) and Ultrashore Realty (URL) through a ‘Share Purchase Agreement’.
Accordingly, post completion of the transaction, RAL and URL will cease to be subsidiaries of the Company. The Board of Directors at its meeting held on March 22, 2024, have approved the same. The expected date of completion of sale shall be on or before March 31, 2024
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.
