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.

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.