Raymond Realty appoints four new independent directors
Raymond Realty
Ltd (RRL) has strengthened its board by appointing several directors as part of the demerger from
Raymond Ltd
and ahead of the upcoming listing. The four new
independent directors
include
K Narsimha Murthy
,
Dipali Sheth
,
Ashish Kapadia
and
Bharat Khanna
.
The board will be chaired by the group Chairman Gautam Hari Singhania, with Harmohan Sahni serving as managing director and CEO of Raymond Realty, the company said in a release.
Last year, the National Company Law Tribunal (NCLT) approved Raymond's comprehensive restructuring plan, including the demerger of its lifestyle business and the amalgamation of Ray Global Consumer Trading into Raymond Lifestyle.
by Taboola
by Taboola
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This restructuring aims to create a more focused and streamlined corporate structure, unlocking the potential value of Raymond's distinct business verticals.
Raymond, known for its operations in textiles, branded apparel, and real estate development, is set to achieve
zero net debt
for both lifestyle and non-lifestyle businesses post-restructuring. This move is anticipated to simplify operations, enhance management efficiency, and provide a clear strategic direction for each business unit.
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