INSUBCONTINENT EXCLUSIVE:
MUMBAI: Raymond chairman and managing director Gautam Singhania has sought to allay concerns over the impact of his personal life on the
company's businesses.Two weeks after parting ways with his wife of 24 years, the textile tycoon has told Raymond's board and employees that
he is "fully committed towards the smooth functioning of the company and its businesses".In an internal statement, he said "it's business as
usual" at the company despite "these (being)difficult times for me".Singhania reiterated that he has chosen not to comment on his personal
life to maintain his family's dignity
"As the media is ripe with news about matters pertaining to my personal life, I am writing to you to say that I have chosen not to comment
on the same as maintaining the dignity of my family is paramount to me."Read story from ETSince November 13, the day Singhania went public
about his separation from his wife, Nawaz Modi, the stock price of Raymond on BSE has plunged 13% to Rs 1,650
In comparison, the BSE 500 index, of which Raymond is a constituent, is up 1.6% during the same time period.Gautam Singhania-Nawaz Modi
Split: Raymond MD's wife demands whopping ?8,745 crore for divorceModi, a shareholder and director of Raymond, has reportedly demanded 75%
of Singhania's $1.4 billion net worth for her and their two daughters as a divorce settlement.In the statement, Singhania also talked about
Raymond's achievements and ongoing initiatives
He said the company has had the best quarter in its history and recently it almost doubled the engineering business by entering sunrise
sectors of aerospace, defense, and electric vehicle components through the Maini Precision Products acquisition
It has also been awarded two marquee real estate projects in the Mumbai Metropolitan Region, he added.
