June 14, 2024
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Baba Ramdev: Ruchi Soya and Patanjali will become global brands

Ruchi Soya Industries, a Patanjali Group subsidiary, has set a price range of Rs 615 to Rs 650 per share for its follow-on public offering, which will begin on March 24.

The offering consists of a new issuance of equity shares for a total amount of Rs 4,300 crore.

The proceeds of the offer will be used to pay off the company’s debts first, and then for general corporate purposes. The company currently owes Rs 3,300 crore in debt.The company, which was purchased by Baba Ramdev’s Patanjali Group through the National Company Law Tribunal (NCLT), is one of the country’s largest branded oil packaged food companies, with brands such as Ruchi Gold, Mahakosh, Sunrich, Ruchi Star, and Ruchi Sunlight, as well as soya foods under the Nutrela brand.

While announcing the FPO to the media, Baba Ramdev stated that the goal is to make the Indian company a global brand. “Ruchi Soya is no longer merely a commodity business. Its verticals include FMCG, food, and nutraceuticals, among others “Ramdev went on to say that the company would focus on rural distribution in India as well as expanding its global reach. “We’ll speak to both the masses and the classes,” he said. The issue is being managed by SBI Capital Markets, Axis Capital, and ICICI Securities. Bidding for the follow-on public offer will close on March 28.

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