Yoga guru Ramdev likely to announce IPOs of 5 Patanjali companies today

insidetrack IndiaSeptember 16, 2022

597 1 minute read

Yoga guru Ramdev’s Patanjali Ayurved is planning to unveil initial public offering (IPO) of its five more companies in the market. Ramdev is set to make the big announcement at a presser in New Delhi on Friday. As of now, Patanjali Foods is the only company from the group which is listed on the stock markets. According to the Bombay Stock Exchange website, the company’s shares were trading at ₹1,356 at 9:30 am. Patanjali Foods was earlier known as Ruchi Soya Industries Limited, the company acquired by the group in 2019 for ₹4,350 crore through an insolvency process.“We are pleased to inform you that Swami Ramdev Ji Maharaj will address an important press conference on 16th September 2022 in New Delhi,” Patanjali had said in a statement. Recently, Ramdev in an interview to a TV channel had revealed that the IPOs of Patanjali Ayurved, Patanjali Wellness, Patanjali Medicine and Patanjali Lifestyle will be issued for subscriptions. According to reports, the yoga guru will also announce his company’s vision and plans for the next five years. The business conglomerate’s revenue increased to ₹10,664.46 crore in the financial year 2022 as compared to ₹9,810.74 crore in the previous fiscal. The net profit was marginally lower to ₹740.38 crore against ₹745.03 crore in FY22, Livemint reported. The invitation for press conference sent by Patanjali said that among the agendas is to ‘expose conspiracies and efforts of rumour mongers spreading false facts and figures with vested motive to disparage Patanjali and its Swadeshi movement in the direction of stronger and healthier India’.

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insidetrack IndiaSeptember 16, 2022

597 1 minute read

insidetrack India

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