India's Raymond Realty drops on trading debut after spin-off

Raymond Realty

01/07/2025 08:13

** Raymond Realty RAYO.NS shares down 3.2% to 967.7 rupees on first day of trading

** Stock opened at 1,000 rupees vs discovered price of 1,039.3 rupees

** Raymond RYMD.NS announced demerger of Raymond Realty last year; RAYO focuses on aspirational, premium and luxury real estate

** Each RYMD shareholder received one RAYO share for each RYMD share

** RAYO rivals Lodha Developers MACE.NS down 0.4%, and Oberoi Realty OEBO.NS up 1.3%

** RYMD up 5.6% on the day

 (Reporting by Manvi Pant in Bengaluru)

 ((Manvi.Pant@thomsonreuters.com; +918447554364;))