Raymond Limited (NSEI:RAYMOND) agreed to spin off Raymond Consumer Care Limited on April 27, 2023. RCCL shall issue 52.25 million shares or 4 shares for every 5 RL share held. Pursuant to the Scheme, the equity shares issued by RCCL would be listed on BSE and NSE. As of December 2, 2023, NSE and BSE have issued "no objection" to the transaction. The record date has been set for July 11, 2024. As of June 21, 2024, the scheme has been approved by NCLT. ICICI Securities Limited (NSEI:ISEC) acted as a fairness opinion provider to Raymond Limited.

Raymond Limited completed the Spin-Off of Raymond Consumer Care Limited on June 30, 2024.