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Diversified FMCG company <keyword id="181951" type="General" weightage="20" keywordseo="ruchi-soya-industries" source="Orion">Ruchi Soya Industries</keyword> has raised ₹1,290 crore from anchor investors ahead of its follow-on public offering (<keyword id="46435" type="General" weightage="80" keywordseo="fpo" source="Orion">FPO</keyword>) that opens for public subscription on Thursday. A follow-on offering is the issuance of additional shares made by a company after an initial public offering (IPO). The upcoming FPO is going to be only a fresh issuance of equity shares to public investors without any offer for sale component, a statement said on Wednesday. The company informed the exchanges that the price band for its FPO has been set at ₹615 per equity share (at the lower end of the price-band) to ₹650 per equity share (at the higher end of the price-band). On Wednesday, it informed the bourses that 19,843,153 equity shares have been allocated to anchor investors at the upper-end of the price-band against the applications from various anchor investors. Societe Generale, BNP Paribas, The Sultanate of Oman - Ministry of Defence Pension Fund, Yas Takaful PJSC (an Abu Dhabi-based insurance company), MK Cohesion, UPS Group and Alchemy were among the foreign investors that received allocation under the anchor investor portion of the FPO, the statement said. Currently, <keyword id="3040166" type="General" weightage="20" keywordseo="patanjali-group" source="Orion">Patanjali Group</keyword> owns about 98.9 per cent stake in <keyword id="53343" type="General" weightage="100" keywordseo="ruchi-soya" source="Orion">Ruchi Soya</keyword>, while public shareholders own about 1.1 per cent stake. Post the FPO, Patanjali Group's holding in Ruchi Soya will come down to about 81 per cent, and the public shareholders would hold about 19 per cent. The entire proceeds from the follow-on issue will be used for furthering the company's business by repayment of certain outstanding loans, meeting its incremental working capital requirements and other general corporate purposes, the company had said recently while announcing the FPO. Ruchi Soya's <keyword id="705161" type="General" weightage="20" keywordseo="ruchi-gold" source="Orion">Ruchi Gold</keyword> brand is the market leader in branded palm oil and also the pioneer of soya foods in India under the brand name Nutrela. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/whatsapp-multi-device-support-starts-rolling-out-to-all-users/articleshow/90410868.cms">WhatsApp multi-device support starts rolling out to all users</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/omicron-subvariant-infections-on-rise-in-us-accounts-for-over-34-of-the-new-covid-19-infections/articleshow/90410070.cms">Omicron subvariant infections on rise in US, accounts for over 34% of the new COVID-19 infections</a>

Ruchi Soya raises ₹1,290 crore from anchor investors ahead of FPO

<keyword id="6358777" type="General" weightage="20" keywordseo="new-delhi" source="Orion">New Delhi</keyword>, March 14 (IANS) <keyword id="53343" type="General" weightage="20" keywordseo="ruchi-soya" source="Orion">Ruchi Soya</keyword> shares hit the 20 per cent upper circuit on Monday after the diversified FMCG company announced it will launch its follow-on public offer (<keyword id="46435" type="General" weightage="20" keywordseo="fpo" source="Orion">FPO</keyword>) worth Rs 4,300 crore on March 24. A follow-on offering is an issuance of additional shares made by a company after an initial public offering. The FPO issue will close on March 28. In order to comply with market regulator SEBI's requirement of a minimum public shareholding of 25 per cent in a listed business, the company is issuing the additional public offering. Entire proceeds from the issue will be used for furthering the company's business by repayment of certain outstanding loans, meeting its incremental working capital requirements and other general corporate purposes. Ruchi Soya's ‘Ruchi Gold' brand is the market leader in branded palm oil and the company is also the pioneer of soya foods in <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword> under the brand name ‘Nutrela'. At 1.25 p.m., the shares of the firm were locked in the upper circuit at Rs 963.75. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/you-may-have-to-shell-out-more-for-your-morning-coffee-and-noodles/articleshow/90200235.cms">You may have to shell out more for your morning coffee and noodles</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/bharatpe-will-now-offer-gold-loans-for-merchant-partners/articleshow/90199544.cms">BharatPe will now offer gold loans for merchant partners</a>

Ruchi Soya shares hit 20% upper circuit prior to the launch of its ₹4,300 crore FPO

New Delhi, Dec 18 () Yoga guru <keyword id="6355107" type="UNKNOWN" weightage="20" keywordseo="Baba-Ramdev">Baba Ramdev</keyword>'s <keyword id="6406649" type="UNKNOWN" weightage="20" keywordseo="Patanjali-Ayurved">Patanjali Ayurved</keyword> on Wednesday made its first big acquisition when it paid Rs 4,350 crore to take over soya food brand Nutrela-maker Ruchi Soya through an insolvency process. The acquisition will help Patanjali acquire edible oil plants as also soyabean oil brands such as Mahakosh and Ruchi Gold. Sources said Patanjali settled Rs 4,350 crore of dues Ruchi Soya had towards financial creditors by infusing Rs 1,100 crore equity and arranging another Rs 3,250 crore via debt.
 The acquisition of Ruchi Soya by Patanjali Ayurveda has been completed, sources said, adding that the amount has been transferred to an escrow account and disbursals to financial creditors are in process.
 When contacted, Patanjali Ayurveda spokesperson S K Tijarewala said: "We have completed all the formalities and the entire amount of debt and equity has been deposited. Now, officially Ruchi Soya has become Patanjali group firm."
 In December 2017, the National Company Law Tribunal (NCLT) ordered start of insolvency proceedings against Ruchi Soya on application of Standard Chartered Bank and DBS Bank. Shailendra Ajmera, part of consultancy firm EY, was appointed as resolution professional (RP).
 Ruchi Soya is the second big insolvency case to be completed this week. World's largest steel maker ArcelorMittal together with Japan's Nippon Steel on Monday completed the acquisition of Essar Steel for Rs 42,000 crore.
 Both the companies were taken to insolvency court over unpaid dues of lenders. Their bankruptcy proceedings had been pending for two years. Their resolution will help lenders such as State Bank of India clear a good part of bad loans, sources said.
 Japyee Infratech, which built the country's first road expressway that is wide enough to land fighter jets during emergency, is also headed towards resolution with lenders on Tuesday accepting the offer of state-owned NBCC Ltd. The deal is slated to close in coming months.
 In April 2019, Patanjali Ayurved had received approval of financial creditors to acquire Ruchi Soya. The NCLT gave its nod to the resolution plan in early September.
 But later, the Singapore-based DBS Bank became a dissenting creditor and approached the NCLAT challenging the distribution of proceeds from the bid submitted by Patanjali Ayurveda.
 Earlier, Ruchi Soya had informed in a regulatory filing that resolution applicant Patanjali group will infuse Rs 204.75 crore as equity and Rs 3,233.36 crore as debt.
 The amount will be infused in a special purpose vehicle 'Patanjali Consortium Adhigrahan Pvt Ltd', which will be later amalgamated with Ruchi Soya.
 Another Rs 900 crore would be infused by the Patanjali group through subscription of non-convertible debentures and preference shares in the SPV. It will also provide credit guarantee of nearly Rs 12 crore.
 Out of the Rs 4,350 crore offered by Patanjali group, Rs 4,235 crore would be utilised to pay creditors while Rs 115 crore would be used for capital expenditure and working capital requirements of Ruchi Soya.
 As per the filing, Rs 4,053.19 crore would be paid to secured financial creditors, Rs 40 crore to unsecured financial creditors, Rs 90 crore to operational creditors, Rs 25 crore to clear statutory dues, Rs 14.92 crore to workmen/employees and Rs 11.89 crore to provide counter bank guarantee.
 Patanjali won the bid to acquire Ruchi Soya after Adani Wilmar, which sells edible oil under the Fortune brand, withdrew from the race citing significant delays in resolution process that led to deterioration of assets.
 Patanjali Ayurved had approached NCLT challenging the decision of Ruchi Soya's lenders to approve Adani Wilmar's takeover bid. Patanjali group had come second in the bidding process. MJH ANZ ABM

Patanjali Ayurved completes acquisition of bankrupt Ruchi Soya for ₹4,350 crore

<ul><li>Indian stock market indices opened in red on Thursday tracking sell-off in global markets.</li><li>The BSE Sensex was trading nearly a percent lower at 38,270.26 points; while Nifty50 was down or 0.81% at 11,315.60 points.</li><li>These are the top stocks that are buzzing the D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices, Sensex tumbled over 300 points in early trade on Thursday tracking the sell-off in global markets after the US Fed's gloomy economic outlook spooked investors. The BSE Sensex was trading nearly a percent lower at 38,270.26 points; while Nifty50 was down or 0.81% at 11,315.60 points. ICICI Bank was the top loser in the Sensex pack, shedding around 2%, followed by IndusInd Bank, HDFC, ITC, Asian Paints and Titan. On the other hand, NTPC, PowerGrid, Sun Pharma and Infosys were among the gainers. These are the top stocks that are buzzing the D-street today. Ruchi Soya dives 2% post Q1 earnings <div type="image" title="Ruchi SOya August 20" msid="77648242" hostid="261"></div> Patanjali Group firm Ruchi Soya shares declined 2% during the early trading hours on Thursday. The company reported around 13% decline in its net profit to ₹12.25 crore for the first quarter ended June 30. It also announced the resignation of Acharya Balkrishna as managing director of the company. Ram Bharat, Baba Ramdev’s younger brother, will replace Balkrishna. Muthoot Finance decline 5% <div type="image" title="Muthoot Fianance August 20" msid="77648250" hostid="261"></div> Shares of one of the largest NBFC gold loan lenders declined 5% during the trade hours on August 20. Although the company posted a 59% rise in standalone net profit in the June quarter, the inventors were cautious about sustainable growth. <a href="https://www.livemint.com/market/mark-to-market/gold-makes-muthoot-finance-shine-in-q1-but-investors-want-growth-sustainability-11597841856611.html">According to reports</a>, the recent surge in gold loans is because people are struggling to pay the dues as the pandemic impacted pockets. Therefore, the growth rates could peter out in the coming quarters. IRCTC lost over 1% during the morning trade <div type="image" title="IRCTC shares" msid="77648259" hostid="261"></div> Shares of partly state-owned hospitality company IRCTC shares declined nearly 1% after news surfaced that the government is looking to reduce its shareholding via an offer of sale. <a href="https://www.timesnownews.com/business-economy/companies/article/indian-railways-irctc-next-on-modi-government-s-disinvestment-agenda-report/639539">According to reports</a>, The department of investment and public asset management (Dipam) has invited bids from merchant bankers and brokers. It aims to divest part of the government’s shareholding of 87.4% in the IRCTC, which was listed on the bourses last year. Tata Power gained over 4% <div type="image" title="Tata power" msid="77648296" hostid="261"></div> Tata Power share soared 4% after the company said after launching its renewable energy InvIT this fiscal year, it would also explore merger and acquisition opportunities to strengthen its position in this space. HAL shares declined over 3% <div type="image" title="HAL" msid="77648311" hostid="261"></div> HAL lost nearly 3% during the morning trade hours after <a href="https://www.moneycontrol.com/news/business/economy/government-may-sell-5-stake-in-hal-via-offer-for-sale-5728591.html">news reports</a> surfaced that Centre is planning to sell 5% stake in state-owned defence player Hindustan Aeronautics (HAL) via an offer for sale. As of now, the central government owns a 90% stake in HAL, and it is expected to rake in up to ₹2,000 crore. DLF gained over 2% <div type="image" title="DLF" msid="77648341" hostid="261"></div> Realty major DLF gained over 2% during the morning trade after the US-based property player Hines secured a ₹2,600 crore loan from HDFC to construct a prime office complex in Gurugram. “The second joint venture between Hines and DLF has secured a construction loan of ₹2,600 crore from HDFC Ltd,” Hines said. <keyword id="6426359" type="COMPANY" weightage="20" keywordseo="pnb-housing-finance">PNB Housing Finance</keyword> up nearly 3% <div type="image" title="PNB Housing" msid="77648370" hostid="261"></div> PNB Housing Finance shares gained nearly 3% after its board on Wednesday approved raising up to ₹1,800 crore equity capital through a preferential or rights issue. Yes Bank and CG power gains nearly 3% and 5%, respectively <div type="image" title="Yes" msid="77648396" hostid="261"></div> Yes Bank shares were up 3% after the company exited <keyword id="9788653" type="COMPANY" weightage="20" keywordseo="cg-power-industrial-solutions-ltd">CG Power &amp; Industrial Solutions Ltd</keyword> (CG Power) by selling its entire stake-holding in the company. Whereas on the other hand CG Power also gained 5%. Yes Bank has sold 6,34,00,000 equity shares having a nominal value of ₹2 each, constituting 10.12% of the share capital of CG Power in various tranches, last being on August 18, 2020, the private sector lender said in a regulatory filing. SEE ALSO:<a href="https://www.businessinsider.in/business/startups/news/swiggy-ran-a-massive-thank-you-campaign-for-its-delivery-heroes-two-months-later-those-heroes-are-protesting-against-reduced-cuts-and-slashed-incentives/articleshow/77647502.cms" data-type="tilCustomLink"> Swiggy ran a massive ‘thank you’ campaign for its delivery heroes – two months later, those heroes are protesting against reduced pay and slashed incentives</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-today-sbi-dlf-pnb-housing-yes-bank-ruchi-soya-titan-company-and-more/articleshow/77646162.cms" data-type="tilCustomLink">Top stocks to watch today— SBI, DLF, PNB Housing, Yes Bank, Ruchi Soya, Titan Company and more</a>

Top stock movers on Dalal Street today —Ruchi Soya, Muthoot Finance, IRCTC, HAL, Tata Power, Yes Bank and more

<ul><li> At 7:45 am, the SGX Nifty was down 1% at 8.56 points.</li><li>Here’s a list of <keyword id="73648" type="PERSON" weightage="20" keywordseo="Stocks-to-watch">stocks to watch</keyword> for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Amid cautious cues from the global markets, Indian stock-market indices are likely to open in red on Thursday. At 7:45 am, the SGX Nifty was down 1% at 8.56 points pointing towards a lower start for Nifty50. US stocks finished lower on Wednesday after the minutes from the Federal Reserve's July meeting raised concerns about economic outlook. The Dow Jones Industrial Average ended 0.31% lower at 27,692.88 points. These are the stocks to watch out for during the trading session today: State Bank of India State Bank of India (SBI) on Wednesday said it raised around ₹8,931 crore in a Tier-II bond sale, the biggest offering by India’s largest bank this year. The bonds with a maturity of 15 years were raised at a coupon rate of 6.8%. The shares of SBI closed 1% higher yesterday. DLF Ltd Realty major DLF and US-based property player Hines have secured a ₹2,600 crore loan from HDFC to construct a prime office complex in Gurugram. “The second joint venture between Hines and DLF has secured a construction loan of ₹2,600 crore from HDFC Ltd,” Hines said. The shares of DLF closed nearly a percent higher yesterday. PNB Housing Finance PNB Housing Finance board on Wednesday approved raising up to ₹1,800 crore equity capital through a preferential or rights issue. The shares of PNB Housing closed 6% higher yesterday. Yes Bank Yes bank has exited CG Power &amp; Industrial Solutions Ltd (CG Power) by selling its entire stake-holding in the company, the bank said on Wednesday. Yes bank has sold 6,34,00,000 equity shares having a nominal value of ₹2 each, constituting 10.12% of the share capital of CG Power in various tranches, last being on August 18, 2020, the private sector lender said in a regulatory filing. The shares of Yes Bank closed 5% higher yesterday. Ruchi Soya Patanjali Group firm Ruchi Soya on Wednesday reported around 13% decline in its net profit to ₹12.25 crore for the first quarter ended June 30. It also announced the resignation of Acharya Balkrishna as managing director of the company. The shares of Ruchi Soya closed 5% higher yesterday. Titan Company The company in a release said that it is fully hedged with gold on lease and gold bought from stock markets. It said that the ineffective hedge loss due to mismatch in sales quantity would be reversed subsequently with a corresponding reversal of stock gain accrued in the first quarter ended June. The shares of Titan closed 0.3% higher yesterday. L&amp;T Finance L&amp;T Finance Holdings will raise up to ₹200 crore by issuing bonds, offering 8 per cent interest to investors. The shares of L&amp;T Finance closed almost flat yesterday. Indian Overseas Bank, J Kumar Infraprojects, Accelya Solutions, HealthCare Global Enterprises These companies are slated to report their first quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/apple-just-became-a-2-trillion-company-hereaposs-how-it-came-to-rule-the-world-from-its-early-struggles-to-beat-microsoft-to-the-launch-of-the-iphone-/slidelist/77640152.cms" data-type="tilCustomLink">Apple just became a $2 trillion company. Here's how it came to rule the world, from its early struggles to beat Microsoft to the launch of the iPhone.</a> <a href="https://www.businessinsider.in/careers/news/cabinet-approves-creation-of-national-recruitment-agency-for-government-and-psu-bank-jobs/articleshow/77632641.cms" data-type="tilCustomLink">Cabinet approves creation of ‘National Recruitment Agency’ — Government and PSU bank job seekers will now have to clear a single central test</a>

Top stocks to watch today— SBI, DLF, PNB Housing, Yes Bank, Ruchi Soya, Titan Company and more

New Delhi, Dec 19 () Acharya Balkrishna has been appointed as the chairman and managing director of Ruchi Soya and Swami Ramdev as non-executive director on its newly constituted board, according to a BSE filing.
 Patanjali Ayurved on Wednesday completed its first big acquisition by paying Rs 4,350 crore to take over soya food brand Nutrela-maker Ruchi Soya through an insolvency process.
 Besides, Acharya Balkrishna would also be chairman and Swami Ramdev a member of the corporate social responsibility committee of the board of Ruchi Soya.
 The acquisition will help Patanjali acquire edible oil plants as also soyabean oil brands such as Mahakosh and Ruchi Gold.
 Sources said Patanjali settled Rs 4,350 crore of dues Ruchi Soya had towards financial creditors by infusing Rs 1,100 crore equity and arranging another Rs 3,250 crore via debt.
 The acquisition of Ruchi Soya by Patanjali Ayurveda has been completed, sources said, adding that the amount has been transferred to an escrow account and disbursals to financial creditors are in process.
 In December 2017, the National Company Law Tribunal (NCLT) ordered start of insolvency proceedings against Ruchi Soya on application of Standard Chartered Bank and DBS Bank. Shailendra Ajmera, part of consultancy firm EY, was appointed as resolution professional (RP).
 Ruchi Soya is the second big insolvency case to be completed this week. World's largest steel maker ArcelorMittal together with Japan's Nippon Steel on Monday completed the acquisition of Essar Steel for Rs 42,000 crore.
 Both the companies were taken to insolvency court over unpaid dues of lenders. Their bankruptcy proceedings had been pending for two years. Their resolution will help lenders such as State Bank of India clear a good part of bad loans, sources said.
 In April 2019, Patanjali Ayurved had received approval of financial creditors to acquire Ruchi Soya. The NCLT gave its nod to the resolution plan in early September. KRH KRH HRS

Acharya Balkrishna appointed Ruchi Soya CMD, Swami Ramdev to be director on new board

The <keyword id="1893580" type="General" weightage="20" keywordseo="allana-group" source="Orion">Allana Group</keyword>, India's largest exporter of processed food products and agro commodities has been nominated as one of India's largest exporters of wheat. Catering to the greater need of the essential commodity, the Group ensured seamless facilitation of grains and has exported a total of 1,03,877 tonnes for the period of 2 years from 2019-2021. The group witnessed an exponential rise of 1812.30 per cent in their export, transporting over 1,48,000 tonnes in the period of 2021-22. The feat was lauded by the Agricultural and Processed Food Products Export Development Authority (APEDA). In these unprecedented times, the war crisis in Ukraine has led to the unique opportunity to fulfil a massive gap of grain export in the market. The <keyword id="1634518" type="General" weightage="20" keywordseo="allana" source="Orion">Allana</keyword> Group has aggressively functioned to connect India with the global supply chain and has aided in restocking the essential food grains across the world. The Middle East and Gulf countries saw the highest number of wheat exports from the country. Speaking on the commendable feat, Fauzan Alavi, Director, Allana Group said, "The Allana Group has built a great relationship with the Customers in the MENA region. Our expertise in sourcing the highest quality grain and state-of- the-art infrastructure has helped us to achieve this historic feat and bag Gold in the prestigious APEDA Export Awards. We are further targeting a 300-400 million USD export revenue that will not only aid small scale farmers to garner better prices for their crop but also the Central Government in terms of income and reduction in forced procurement of certain commodities." Allana's holistic efforts witnessed the Group winning Gold in Buffalo meat exports and Bronze in Fruit pulp and Frozen Foods exports for the YEAR 2019-20 as well as Gold in Buffalo meat and Cereals and Cereals Preparation exports and Bronze in Fruit Pulp exports for the YEAR 2020-21. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/ruchi-soya-icici-bank-zee-entertainment-and-other-hot-stocks-to-watch-out-for-on-march-24/slidelist/90410086.cms">Ruchi Soya, ICICI Bank, Zee Entertainment and other hot stocks to watch out for on March 24</a> <a href="https://www.businessinsider.in/policy/economy/news/the-russia-ukraine-conflict-could-shake-up-the-global-balance-of-power-in-3-big-ways-economist-intelligence-unit-says/articleshow/90406629.cms" data-type="tilCustomLink">The Russia-Ukraine conflict could shake up the global balance of power in 3 big ways, Economist Intelligence Unit says</a> <a href="https://www.businessinsider.in/science/health/news/omicron-subvariant-infections-on-rise-in-us-accounts-for-over-34-of-the-new-covid-19-infections/articleshow/90410070.cms" data-type="tilCustomLink">Omicron subvariant infections on the rise in US, accounts for over 34% of the new COVID-19 infections</a>

Allana Group emerges as one of India's largest exporters of wheat

New Delhi, Jan 24 () Haridwar-based Patanjali group, which has acquired debt-ridden Ruchi Soya, is expecting Rs 25,000 crore turnover this fiscal, and aims to become the country's largest FMCG company in coming years, Yoga Guru Ramdev said on Friday.
The company will register a joint turnover of Rs 25,000 crore in the current fiscal ending March 2020, in which around Rs 12,000 crore would be contributed by Patanjali group firms and Rs 13,000 crore will come from Ruchi Soya, he said.
"In next five years, we would have a turnover of around Rs 50,000 crore to Rs 1 lakh crore and will become the largest FMCG company, replacing HUL," Ramdev said.
Patanjali, which acquired Ruchi Soya in an Corporate Insolvency Resolution for around Rs 4,500 crore, is also looking to expand its product line.
"We will launch three new products under Nutrela brand targeting the health conscious people, targeting the people suffering from diseases such as heart, cholesterol and high blood pressure," he said.
These products will include premium Oil Nutrela Gold, Nutrela Honey and Nutrela Protein Atta.
"We are expecting three times growth from Ruchi Soya in coming years," Ramdev said, adding it will also lessen burden of import of edible oil from other countries and make India self dependent in this sector.
Patanjali will also continue to have Bollywood actress Madhuri Dixit as the brand ambassador for Ruchi Soya's Mahakosh range of products.
HUL, a market leader in the FMCG segment had reported a revenue of over Rs 38,000 crore in FY 2018-19 and this is expected to go up further with the merger with GSK Healthcare business.
Ramdev also said that over the next two years, 25 per cent shares of Ruchi Soya will have to be liquidated as per Securities and Exchange Board of India (Sebi) guidelines.
Commenting on the acquisition, Ramdev said the products of Ruchi Soya would not clash with Patanjali's product and add value to the customers.
With Ruchi Soya, it also aims to double its reach in next five years to 50 crore people from the existing 25 crore.
"We have target to expand our reach to 50 crore people in next five years," he said. KRH AKT
BAL

Patanjali group eyes Rs 25k crore turnover in FY20

New Delhi, Jan 24 () Haridwar-based Patanjali group, which has acquired debt-ridden Ruchi Soya, expects to have a turnover of Rs 35,000-Rs 40,000 crore in the next financial year and to become the largest company in the FMCG sector in the coming years replacing market leader HUL, said Yoga Guru Ramdev here on Friday.
 The company is expected to register a joint turnover of up to Rs 25,000 crore in the current financial year, in which around Rs 12,000 crore is likely to be contributed by Patanjali group firms and Rs 13,000 crore may come from Ruchi Soya, he said.
 After the acquisition of Ruchi Soya, Ramdev-promoted Patanjali expects threefold growth of the company and to become a major player in the edible oil category and take a lead in the domestic production of soyabean oil, sunflower oil and palm oil.
 Besides, it would also reduce India's dependency on imports in the edible oil segment and save foreign exchange reserve through self-reliance on palm oil.
 "This fiscal, Patanjali along with Ruchi Soya would have a turnover of around Rs 25,000 crore and expects to grow up to around Rs 35,000 crore-Rs 40,000 crore by the next fiscal year (FY21)," Ramdev said.
 He further said, "In next five years, we would have a turnover of around Rs 50,000 crore to Rs 1 lakh crore and will become the largest FMCG company, replacing HUL."
 Hindustan Unilever Ltd (HUL), market leader in the FMCG segment, had reported a revenue of Rs 38,224 crore in 2018-19 and this is expected to go up further with the merger with GSK Healthcare's business.
 When contacted, HUL spokesperson said, "As a policy, we do not comment on competition."
 Patanjali had acquired Ruchi Soya in a corporate insolvency resolution process for around Rs 4,350 crore after contesting with Adani Group.
 In the next two years, 25 per cent shares of Ruchi Soya will have to be liquidated as per the Securities and Exchange Board of India (Sebi) guidelines, said Ramdev.
 The company expects a higher growth coming from Ruchi Soya, where it is aiming multi-fold growth and is introducing new products by extending its existing popular brand Nutrela.
 "We will launch three new products under Nutrela brand targeting the health-conscious people and the people suffering from diseases such as heart ailments, cholesterol and high blood pressure," he said.
 These products will include premium Oil Nutrela Gold, Nutrela Honey and Nutrela Protein Atta.
 "We are expecting three times growth from Ruchi Soya in coming years," Ramdev said adding that it will also lessen the burden of import of edible oil from other countries and make India self-dependent in this sector.
 Both Patanjali and Ruchi Soya would integrate its products by leveraging their strengths and would enhance the respective production capacity and increase market share, he added.
 Patanjali will also continue to have Bollywood actress Madhuri Dixit as the brand ambassador for Ruchi Soya's Mahakosh range of products.
 Moreover, on being asked whether there would be competition between some products of Ruchi Soya and Patanjali Ayurved, Ramdev said the products of Ruchi Soya would not clash with Patanjali's product and will add value to the customers.
 With Ruchi Soya, it also aims to double its reach in the next five years to 50 crore people from the existing 25 crore.
 "We have target to expand our reach to 50 crore people in the next five years," he said adding that the Patanjali group is now providing employment opportunities to around two lakh people and a similar number of farmers and would continue to add the numbers in its fold.
 On being asked about the slowdown in the FMCG segment, Ramdev said it was a temporary phase, companies selling luxury products were mainly impacted and companies selling regular household consumption goods such as Patanjali Ayurved and Ruchi Soya were not impacted.
 "Our turnover and brand equity have actually increased. Our market share has also increased," he said adding that there is no plans for listing of Patanjali Ayurved. KRH HRS

You Searched For "ruchi gold" and got 9 results

Ruchi Soya raises ₹1,290 crore from anchor investors ahead of FPO

IANS

Ruchi Soya shares hit 20% upper circuit prior to the launch of its ₹4,300 crore FPO

IANS

Patanjali Ayurved completes acquisition of bankrupt Ruchi Soya for ₹4,350 crore

PTI

Top stock movers on Dalal Street today —Ruchi Soya, Muthoot Finance, IRCTC, HAL, Tata Power, Yes Bank and more

Navdeep Yadav

Top stocks to watch today— SBI, DLF, PNB Housing, Yes Bank, Ruchi Soya, Titan Company and more

Navdeep Yadav

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