Yoga guru Baba Ramdev-led Patanjali Ayurved aquires Ruchi Soya
Patanjali will also infuse capital of Rs 1,700 crore into the company to revive its operations
Delhi, May 01: Patanjali acquired Ruchi Soya Industries in an insolvency auction started by lenders to recover over Rs 9,300 crore loans.
Yoga guru Baba Ramdev-led Patanjali Ayurved walked away with debt-ridden edible oil firm Ruchi Soya with a bid of ₹ 4,325 crores, sources said. In December 2017, the National Company Law Tribunal had referred Ruchi Soya for insolvency proceedings on the application of financial creditors Standard Chartered Bank and DBS Bank.
With the acquisition of Ruchi Soya, Patanjali will become a major player in soybean oils and other products. Patanjali will now have the largest oilseed extraction capacity in the country, and 24 plants of crushing, milling, refining and packaging edible oils.