On Tuesday, Raymond Limited’s real estate division, Raymond Realty, made its debut on the stock market amid a block deal, as Norges Bank sold 4,12,585 equity shares valued at approximately Rs 42 crore. This transaction occurred slightly above the listing price of Rs 1,000 on the NSE but below the discovery price.
Norges Bank, on behalf of the Norwegian Government Pension Fund Global, sold shares at Rs 1,005.94. Conversely, shares of Raymond Realty closed at Rs 999, down by Rs 40, which is nearly a 4% drop from the discovery price of Rs 1,039.30.
The parent company, Raymond, also experienced significant trading activity, with block deals exceeding Rs 221 crore as various institutional and proprietary investors divested substantial holdings.
Data from the exchanges reveal notable trades:
Graviton Research Capital LLP sold 11,41,077 shares at Rs 754.42, resulting in a deal size of Rs 86.1 crore.
NK Securities Research Pvt Ltd. offloaded 10,50,980 shares at Rs 754.60, equivalent to Rs 79.4 crore.
QE Securities LLP sold 7,38,831 shares at Rs 753.91, totaling Rs 55.7 crore.
Other sellers included Marwadi Chandarana Intermediaries Brokers (Rs 41.0 crore), Alphagrep Securities (Rs 33 crore), HRTI Pvt (Rs 34.8 crore), Arham Wealth Management (Rs 31 crore), and Elixir Wealth Management (Rs 32 crore).
The total trades involving Raymond Ltd. sum up to approximately Rs 221 crore, reflecting increased activity as investors readjust their portfolios following recent corporate changes, including the introduction of Raymond Realty.
The concurrent block deals in Raymond Realty and Raymond Ltd. highlight sustained institutional interest and exit as the market adapts to the demerger and new listing. Shares of both Raymond Realty and Raymond Ltd. were among the most actively traded, showcasing intense investor attention on the restructuring of the Raymond Group.
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