These days Baba Ramdev is campaigning fiercely for the FPO of Ruchi Soya, a subsidiary of Patanjali. In this episode, Baba Ramdev reached Aaj Tak, where he told the audience about Ruchi Soya’s future plans. About the future of the company, he said that the company is fast moving forward in the FMCG sector. Soon Patanjali’s entire food portfolio will be transferred to Ruchi Soya.
During this, the anchor asked the question that which asana is going to be done by Baba Ramdev in the FMCG area now. To this Baba Ramdev replied that he is making it easy to make the throne of victory and Bharat Mata supremely glorious. He further told that he wakes up at 4 in the morning and does yoga till 10 in the morning and then from 10 o’clock in the night he does karma yoga.
Plan to raise Rs 4300 crore: Ruchi Soya, a subsidiary of Baba Ramdev-led Patanjali Group, is raising Rs 4,300 crore from the equity market through FPO. The company’s FPO will be open till March 28. The money received from the FPO will be used to repay the debt of Ruchi Soya. Presently the company has a debt of Rs 3300 crore. The remaining money coming from the FPO will be used to meet the working capital requirements of the company.
Investors disillusioned with FPOs: So far, investors are not showing interest in Ruchi Soya’s FPO. Talking about the figures from the opening of the FPO on Thursday till the market closes on Friday, then the FPO of Ruchi Soya is only 37 percent full.
Ruchi Soya bought in 2019: Ruchi Soya was bought by Patanjali in December 2019 under the bankruptcy process for Rs 4350 crore. After becoming a part of Patanjali Group, the company has become profitable, along with the company’s income has also increased.
Patanjali holds 98.9 per cent stake in Ruchi Soya. According to market regulator SEBI, promoters of any stock exchange listed company cannot hold more than 75 per cent stake in the company. After the FPO, Ruchi Soya will hold Patanjali’s stake at 81 per cent.