Raymond Lifestyle Limited — Important, 30-01-2025: Updates

Raymond Lifestyle Limited has shared a report from the Audit Committee and Independent Directors regarding the distribution of proceeds to eligible shareholders from fractional shares following the Composite Scheme of Arrangement. The scheme, effective from June 30, 2024, involved the demerger of Raymond Limited's lifestyle business into Raymond Lifestyle Limited and the amalgamation of Ray Global Consumer Trading Limited.

In total, 1,01,879 shareholders received equity shares in a ratio of 4:5, generating 5,32,58,985 equity shares, including 62,251 shares allocated for fractional entitlements. The fractional shares were managed through a designated account, with the Trustees selling these shares between November 26 and December 3, 2024, at an average price of ₹2037.43 per share, yielding gross proceeds of ₹12.68 crore after deducting expenses. Eligible shareholders received a net distribution based on their proportional entitlement, with some funds temporarily held due to KYC compliance issues and technical difficulties pertaining to IEPF payments. Both the Audit Committee and Independent Directors confirmed the accurate distribution of these proceeds, reinforcing compliance with regulatory requirements.