InvestorQ : Why is Raymond planning to list its auto components subsidiary?
Debbie Mascarenhas made post

Why is Raymond planning to list its auto components subsidiary?

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Arti Chavan answered.
5 months ago
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The auto component subsidiary of Raymond Ltd, JK Files & Engineering, will come out with an IPO to mobilize Rs.800 crore. However, this will entirely be an offer for sale so no fresh funds will come in JKEFL but the funds will come into the Raymond kitty. However, JK Files & Engineering will continue to be a significant subsidiary of Raymond even post IPO.

The IPO will allow Raymond to monetize some of its holdings in the subsidiary without losing voting control. It will also help to deleverage the group. Raymond is currently restructuring its various business interests across textiles, retail, auto ancillaries, realty and other interests.

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