Overview

• Raymond Realty Ltd began trading on July 1 at discovery prices of Rs 1,020–1,025 per share on the BSE and NSE
• Shares of parent Raymond Ltd remained elevated after a 12–15% rally in the days leading up to the realty listing
• The 1:1 demerger under the Raymond 2.0 transformation created three independent, net-debt-free entities: Lifestyle, Real Estate and Engineering
• Raymond Realty holds a Rs 40,000 crore gross development pipeline anchored by a 100-acre Thane land bank and joint development agreements across Mumbai
• Brokerages project an initial listing range of Rs 897–1,430 per share and highlight the company’s asset-light model and strong cash-flow potential