Raymond: 50% of the sale proceeds will keep in Raymond Shopper Care: Gautam Hari Singhania, Raymond

“100% of my fairness holding within the shopper firm I’m leaving again within the firm, I’m not taking a single rupee out of it,” says Gautam Hari Singhania, Chairman & Managing Director, Raymond

Whereas Amit Agarwal, Group CFO, Raymond says, ” It’s a must to perceive the Rs 1400 crore is a sum of two promoter contributions into the enterprise. The primary one among Rs 350 crore was carried out in 2019 when the land of the promoter offered. The second is that this which is thousand plus crores which is the promoter share on the sale of FMCG which once more goes again into the life-style enterprise.”

What would be the promoter contribution to the life-style and actual property enterprise?
Gautam Hari Singhania: So, 100% of my fairness holding within the shopper firm I’m leaving again within the firm, I’m not taking a single rupee out of it. So, my 50% of the sale proceeds will keep in Raymond Shopper Care and as a promoter I’m placing 100% of my gross sales proceeds again into the enterprise.

So, you might be placing it again into the life-style and the actual property enterprise.
Gautam Hari Singhania: Completely and which is a really sturdy assertion to point out my dedication and perception in what the corporate will do.

Are you able to give me a way of the breakup about how a lot goes into way of life, into actual property?
Amit Agarwal: Truly, you must perceive the Rs 1400 crore is a sum of two promoter contributions into the enterprise. The primary one among Rs 350 crore was carried out in 2019 when the land of the promoter offered. The second is that this which is thousand plus crores which is the promoter share on the sale of FMCG which once more goes again into the life-style enterprise, so to that extent that is Rs 1400 crores. So, you can’t outline whether or not it is a enterprise, the Rs 350 crore what we’ve got put in 2019 was referring to way of life or for the realty enterprise. It was Raymond Restricted.

And also you additionally spoke in regards to the 100% promoter contribution, I imply are you able to give an thought about that?
Amit Agarwal: 100% promoter contribution means no matter share of the promoter on the identical proceeds, 100% of that proceeds has gone into the enterprise. It’s not 100% the worth as a result of the promoter held solely 49%, so regardless of the worth popping out of the 49% has been put into the life-style enterprise in RCCL.