Gautam Singhania, the Chairman and Managing Director of Raymond, took measures to allay concerns among the company’s board and employees regarding the recent dip in stock prices triggered by investor worries related to his family dispute. He addressed these concerns by sending a reassuring email, as per reports, affirming that his personal challenges wouldn’t affect the group’s business operations.
In the email, Singhania emphasised his unwavering commitment to generating value for shareholders and safeguarding the interests of employees, customers, and stakeholders amid the ongoing situation with his estranged wife, Nawaz Modi. However, Raymond refrained from providing any official statement on the matter.
The continuous decline in Raymond’s stock price over the past nine trading sessions, amounting to a 13.3 per cent reduction, has led to a substantial erosion of approximately Rs. 1,700 crore in shareholder wealth, raising apprehensions among investors regarding the implications of the family dispute on the company’s performance.
Singhania’s public announcement of his separation from Nawaz on X (formerly Twitter) on 13th November triggered reports of Nawaz seeking a significant portion of his net worth, approximately 75 per cent, for herself and their two daughters, Niharika and Nisa, as part of a family settlement.
While Singhania refrained from commenting on the specifics of the personal matter, he underscored his commitment to maintaining the dignity of his family. He reiterated his steadfastness in leading Raymond, emphasising that despite personal challenges, the company would continue its operations without disruptions.
