Ruchi Soya To Patanjali Foods, Baba Ramdev’s Company Name To Change

Ruchi Soya has also authorised the officers of the company to negotiate, finalise, execute and deliver the terms and conditions of the proposed transaction The name of Baba Ramdev’s company Ruchi Soya Industries is going to change soon. The Board of Directors of Ruchi Soya has decided to rename Ruchi Soya Industries as Patanjali Foods. The company has filed with the stock exchange and informed about the decision of the board of directors. The filing reads, “Business Transfer Agreement (“BTA”) with Patanjali Ayurved Limited (“PAL”) to ; acquire the food…

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Sebi Penalises Nine Entities For Manipulating Ruchi Soya Stock Prices

Capital markets regulator Sebi has imposed a penalty amounting Rs 25 lakh on nine entities for indulging in fraudulent trade practices in the scrip of Ruchi Soya Industries Limited nearly 10 years ago. In its order on April 29, the securities and Exchange Board of India (Sebi) imposed a total penalty of Rs 25 lakh on the noticees — Aventis Biofeeds Pvt Ltd, Navinya Multitrade Pvt Ltd, Uni24 TechnoSolutions Pvt Ltd, Sunmate Trade Pvt Ltd, Shreyans Credit and Capital Pvt Ltd, Betul Oils and Feeds Pvt Ltd, Betul Minerals and Constructions Pvt Ltd, Vision Millenium Exports Pvt Ltd,…

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Ruchi Soya Hits Capital Market To Raise Rs 4,300 Cr; To Become Debt-free

 Baba Ramdev-led Patanjali Ayurved-owned Ruchi Soya on Thursday hit the capital market to raise Rs 4,300 crore through its follow-on public offer (FPO) as it aims to become a debt-free company. The issue closes on March 28. The price band has been fixed at Rs 615 to Rs 650 per share. Addressing a press conference here, Ramdev said the company has launched its FPO despite volatility in the stock market because of the war between Russia and Ukraine. He said the company has already raised Rs 1,290 crore from anchor…

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Rs 4,300 Cr Ruchi Soya FPO To Open On Mar 24; Price Band Set At Rs 615-650

Patanjali Ayurved group-controlled Ruchi Soya Industries will hit the capital markets with a Rs 4,300-crore follow-on offer on March 24, making the country’s largest edible oil-maker the first to be re-listed after the bankruptcy process. The management led by Ruchi Soya chairman Acharya Balakrishna and Baba Ramdev, non-executive director, on Monday announced the price-band for the issue at Rs 615-650. At the upper end, Patanjali, which now owns 98.9 per cent of the company, will dilute around 19 per cent and 18 per cent at the lower end of the…

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We Aim To Be A Large FMCG + FMHG Player: Sanjeev Kumar Asthana, CEO, Ruchi Soya Industries

Patanjali Ayurved, which owns 98.9 per cent of Ruchi Soya Industries, is gearing up for a follow-on public offering (FPO). Patanjali had acquired the erstwhile bankrupt Ruchi Soya, best known for its Nutrela brand of soya-based products, in 2019 for around Rs 4,350 crore through an Insolvency and Bankruptcy Code (IBC) process. Sanjeev Kumar Asthana, CEO, Ruchi Soya Industries talks to Ashish Sinha about the company’s expansion plans and what it will do with the FPO proceeds. Excerpts: What are the plans for Ruchi Soya after the FPO? In addition…

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