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Baba Ramdev-led Patanjali Ayurved Ltd has sold its food retail business to Ruchi Soya Industries Ltd for Rs 690 crore. The deal includes manufacturing, packaging, labelling and retail trading of 21 major products including ghee, honey, spices and juices.

Ruchi Soya To Be Renamed Patanjali Foods Company Board

The renaming of Ruchi Soya to Patanjali Foods Company will help the company increase brand recognition and recall in the market. The company will be able to leverage the reputation and goodwill of the Patanjali brand, which is well-known for its range of natural and Ayurvedic products. This will help the new company gain a stronger foothold in the FMCG sector, and is expected to boost sales and revenue.

In addition to renaming itself, Patanjali Foods will also be taking over the food retail business of Ruchi Soya. This will include 21 major products, including ghee, honey, spices, juices, and atta. The acquisition will be valued at a fair market value of Rs 690 crore, and includes the transfer of manufacturing units located in Padartha district in Uttarakhand, Haridwar in Uttarakhand, and the Newasa unit in Maharashtra.

Ruchi Soya is one of India’s leading producers of edible oils and soya foods. The company has a significant presence in the domestic market and is known for its high-quality products and distribution network. The renaming will allow the company to build upon its strengths and become a dominant force in the market.

However, the renaming may face some challenges. For example, the company will have to spend a lot of money on marketing, and it will need to ensure that the quality of its products is maintained. In addition, it will have to make sure that it has enough resources to meet demand.

In order to mitigate these risks, the company will have to develop a strong and effective supply chain. In addition, it will need to develop a comprehensive strategy for expansion into the global market. This will require a great deal of investment and time, but it will be worthwhile in the long run.

The move is a part of Ramdev’s plan to make Patanjali the country’s top FMCG company. Earlier this year, the company raised Rs4,300 crore through a follow-on public offering (FPO), which was used to retire debt. This is in line with the company’s aim of becoming debt-free in three-four years.

Patanjali Ayurved To Sell Food Retail Business To Ruchi Soya

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Yoga guru and businessman Baba Ramdev’s Patanjali Ayurved took a key initiative to strengthen its position in the fast-moving consumer goods (FMCG) sector by selling its food retail business to listed subsidiary Ruchi Soya. The deal -which comprises 21 major products such as ghee, honey, spices, juices, and atta -will be completed by July 15.

The transaction will enable Patanjali to focus on its traditional medicine and non-food businesses, and it will also enhance its presence in the global FMCG market. It will also boost the company’s e-commerce operations and allow it to expand its international footprint.

In addition to its edible oil business, Patanjali is also involved in the manufacturing and marketing of soya foods. The company’s brands include Nutrela soya foods, Mahakosh, and Sunrich. Its other products include soya chunks and granules, soya flour, and high-protein chakki atta. It also exports agricultural commodities such as raw cotton.

The company’s revenue in the financial year ending December 2017 was INR 61,089 crore, and its net profit was INR 2,867 crore. In the same year, the company paid INR 5,500 crore as dividend to its shareholders. The company has a total of 1,478 employees, and it is headquartered in Mumbai. Its top competitors include Hindustan Unilever and Diageo.

Ruchi Soya To Repay Loans

The board of Ruchi Soya Industries Limited has approved renaming the company to Patanjali Foods Limited, according to a BSE filing. The board also gave its approval to evaluate the most efficient mode of enhancing synergies with co-founder and yoga guru Baba Ramdev’s company, Patanjali Ayurved Ltd.

The company has already repaid loans worth Rs 2,925 crore to banks and has become a debt-free firm, according to an NDTV report. The debt was repaid by infusing equity and paying another Rs 3,250 crore through debt, the report added. The repaid amount is equivalent to around 75% of the total loans outstanding under the term loan facility.

Ramdev had announced in a press conference that the Rs 4,300 crore FPO, which ended on March 28, would be used to repay 80-85% of the company’s existing loans. However, investors remained cautious and the FPO ended up undersubscribed. This was largely due to the volatility in the market over tensions between Russia and Ukraine, as well as uncertainty around the upcoming general elections.

Moreover, the share of Ruchi Soya is still not popular among investors, with a low institutional ownership. The company has a total of 24.8 crore shares, with the average daily trading volume of about 11.5 million. This is a far cry from the Rs 12.7 billion that was raised by Patanjali Ayurved in its recent public offering.

In December 2019, Patanjali Ayurved acquired debt ridden Ruchi Soya Industries Ltd for Rs4,350 crore. The acquisition was based on the fair market value of all the fixed assets and current assets on a slump sale basis, Ruchi Soya informed in a regulatory filing.

In a press conference, Ramdev said that the aim was to make Patanjali and Ruchi Soya India’s largest food and FMCG company in the next five years. He also said that he wanted to set up a plant for the manufacture of biscuits in the country. In addition to this, he would like to develop new products and launch them in the domestic market as soon as possible. He said that the diversified portfolio of the two companies will help them achieve their goal.

Ruchi Soya To Evaluate Efficient Mode Of Enhancing Synergies With Patanjali Ayurved

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Shares of Ruchi Soya Industries rose as much as 8 percent on Monday after the company said it was planning to rename itself and boost synergies with Patanjali Ayurved. In a regulatory filing, the company board approved changing its name to Patanjali Foods Limited or any other name as may be made available by the Registrar of Companies.

It added that the company’s board also accorded its in-principle approval for evaluating the most efficient mode for enhancing synergies with Patanjali Foods portfolio in any manner on an arm’s length basis. This includes whole wheat traditional chakki atta, pulses and other, aloe vera juice and beverages, Medicated oil, rice bran oil and cow ghee etc.

The acquisition is valued at a fair market value of Rs 690 crore based on the acquired food retail business of PAL, which comprises 21 major products including ghee, honey, spices, juices and atta. The deal will include the acquisition of all fixed assets, current assets and manufacturing plants at Padartha, Haridwar and Newasa in Maharashtra. The transaction is expected to close on May 9, according to a company statement. The combined annual turnover of Patanjali Ayurved and Ruchi Soya is around Rs 35,000 crore.