 Billionaire Gautam Singhania's Separation with Wife Erases $180 Million at Raymond

Raymond loses $180 million due to billionaire Gautam Singhania's separation from his wife

Billionaire Gautam Singhania and his wife Nawaz Singhania announced their separation on November 13, 2023.

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The couple had been married for 32 years and Nawaz Singhania was a board member of Raymond Ltd., one of India's leading textile and apparel companies.

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The announcement of the separation sparked uncertainty among investors, causing Raymond's stock to plummet by 12%, erasing $180 million in market value.

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The shares fell as much as 4.4% on Wednesday, November 22, 2023, marking the sharpest decline since October 25, 2023.

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Analysts attribute the stock's downfall to the uncertainty surrounding the Singhanias' separation and Nawaz Singhania's potential departure from the Raymond board.

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The Economic Times reported that Nawaz Singhania has sought a substantial 75% of Gautam Singhania's $1.4 billion fortune as part of the settlement negotiations.

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Analysts predict that the ongoing turmoil could continue to weigh on the stock price until a resolution is reached.

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The uncertainty surrounding the separation could have long-lasting consequences for Raymond Ltd.'s future.

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