Raymond Lifestyle shares opened at ₹3,000 on the BSE, a 99.5% premium over the base price of ₹1,503.30 per share.
Post-listing, Raymond Lifestyle shares dropped 5%, hitting the lower circuit at ₹2,850 on the BSE, with a market cap of ₹17,363 crore.
Raymond shareholders received 4 Raymond Lifestyle shares for every 5 Raymond shares they held after the June 30, 2024, demerger.
In Q1 2024, revenue dropped 8% to ₹1,249 crore, and EBITDA fell 51% to ₹87 crore due to weaker demand and other market factors.
Analysts expect Raymond Lifestyle’s revenue to grow 12-15% annually, with plans to double EBITDA to ₹2,000 crore by FY28.