Patanjali raises its bid for Ruchi Soya


Patanjali Ayurveda has raised its bid to acquire Ruchi Soya and had made the revised offer to the Committee of Creditors (CoC) for the debt ridden company.


The latest bid is around 30 per cent higher than that of the Adani group, which is also in the race to acquire the company with its offer of around Rs 3,300 crore, the sources said.


The new offer was made after the representatives of Baba Ramdev-led Patanjali group met the CoC of Ruchi Soya, said a sources, adding that they had asked the group to sweeten the offer.


Patanjali has also assured the lenders that it would invest extra capital required to revive the company.


Haridwar-based Patanjali group had emerged as the front runner with a bid of over Rs 4,000 crore to acquire Ruchi Soya.


The CoC of the company is meeting tomorrow and may finalise the bids.


Patanjali Ayurveda already has a tie-up with the Indore-based Ruchi Soya for edible oil refining and packaging.


Earlier, Patanjali spokesperson had said that the company has bid for Ruchi Soya as it aims to be a major player in edible oil segment, particularly soybean oil. It also wants to work for farmers benefit.



Read Previous

Nestle to merge research units for strengthening innovation

Read Next

Coca-Cola launches first alcoholic drink in Japan

Leave a Reply