In the world of business, major changes have taken place as Raymond demerges its real estate business and lists it separately, while on the other hand, Stanley Lifestyles' IPO is oversubscribed multiple times within the first day of listing. However, Sebi has also made headlines by banning both Omaxe and Reliance from trading on stock exchanges. In other news, BSE and NSE have approved the demerger of Vedanta, with six independent directors being appointed for the process.
The textile major Raymond Group has announced its plans to list its demerged entity, Raymond Lifestyle, on the stock exchanges sometime next week. This comes as the company has completed the demerger process and will now have three listed entities - Raymond Limited, Raymond Lifestyle Limited, and Raymond Realty Limited. With a focus on its lifestyle business and strategic investments, Raymond expects to double its earnings from this sector by FY28 and aims to expand its presence in the fast-growing men's-wear wedding market in the coming years.