Raymond Limited informed the exchanges Wednesday that its wholly owned subsidiary Silver Spark Apparel Limited has entered into a ‘Share Transfer Agreement (STA)’ for divestment of its entire stake in Dress Master Apparel Private Limited (DMAPL), wholly owned subsidiary of SSAL.
Accordingly, SSAL, on completion of conditions set forth in the Share Transfer Agreement, will divest its entire stake in DMAPL.
At around 10.05 am, Raymond Ltd was trading at Rs326.30 piece up by Rs4.30 or 1.34%) from its previous closing of Rs322 per piece on the BSE.
The scrip opened at Rs322.55 and has touched a high and low of Rs325 and Rs322.55 respectively.