Ramdev plans to make Initial Public Offerings (IPOs) for four of his businesses
Over the next five years, the yoga instructor Ramdev plans to make Initial Public Offerings (IPOs) for four of his businesses.
Patanjali Ayurved, Patanjali Wellness, Patanjali Medicine, and Patanjali Lifestyle are the various names of the businesses. The companies will list on the stock exchange during the following five years.
Ruchi Soya was acquired by Patanjali Ayurveda for Rs4,350 crore as part of a settlement process in 2019. However, the company had previously been floated on the stock exchange. Currently, the business goes under the name Patanjali Foods.
One of India’s leading palm oil plantation companies, Patanjali Foods, has access to resources in around 55 districts spread across 11 states.
Over the following five years, Patanjali Group intends to list the other four of its group companies to reach a market capitalization of over Rs 500,000 crore.
Recently, Patanjali Foods’ stock price surpassed its 52-week high. The cost of the company’s stock on Friday was 1,380.35 rupees. The stock’s price increased while trading to Rs. 1,400.
Patanjali Foods is one of the top fast-moving consumer goods (FMCG) businesses in India. Additionally, it sells and makes a wide variety of nutrient-dense food oils.
The business poured the first brick for the construction of an oil palm factory in Arunachal Pradesh on August 31. According to a regulatory filing, the mill is situated at the Industrial Growth Centre, Niglok, District East Siang, Arunachal Pradesh.
On a total of 38,000 hectares of land spread across nine districts in the state, Patanjali Foods intends to start oil palm plantations.