Raymond Limited agreed to acquire Ray Global Consumer Enterprise Limited from Ray Global Consumer Products Limited for INR 0.5 million.

Raymond Limited (NSEI:RAYMOND) agreed to acquire Ray Global Consumer Enterprise Limited from Ray Global Consumer Products Limited for INR 0.5 million on May 3, 2024. Raymond will acquire 0.05 million equity shares. Consequent to the transaction, Ray Global Consumer Products will become a direct wholly owned subsidiary of Raymond Limited.

The turnover of Ray Global Consumer Products for the financial year ended on March 31, 2024 is nil. The Board of Directors of Raymond Limited approved the transaction. The transaction is expected to close before May 9, 2024.