Patanjali Ayurved will source the milk directly from farmers and process it at its plants in Uttar Pradesh, Rajasthan and Maharastra.
Homegrown FMCG major almost got a walk over after rival Adani Wilmar decided to pull out from the race despite being selected the highest bidder few months back.
Patanjali, the lone player left in contention after the exit of Adani Wilmar, had last month increased its bid value by around Rs 200 crore to Rs 4,350 crore for the Madhya Pradesh-based Ruchi Soya.
Patanjali Ayurved's close to acquiring Ruchi Soya but its balance sheet already looks stretched. Going public to raise equity could solve this problem. Investors too would be happy at the prospect of owning its shares
Adani Wilmar, which emerged as the highest bidder in August last year after a long drawn battle with Patanjali, has withdrawn from the race citing delay in completion of the insolvency process.
Patanjali’s threat has been downplayed by the Street in recent years, as its performance has faltered and its competitive streak appears more subdued. Don’t write it off just yet, says the data
Ruchi Soya’s acquisition will not only expand its current business but also be a vital component in Ramdev’s ambitious plan of doubling revenue, which the company failed to do in fiscal 2018.
Ruchi Soya will not only make Patanjali the second biggest edible oil company, but also boost its manufacturing capacity and distribution muscle
Patanjali can easily play the penetration game by tapping fresh markets, especially in the rural areas, where others would struggle to reach.
Baba Ramdev claims that Patanjali's milk would be cheaper than other established brands by Rs 2
A spokesperson of Adani Group also declined to comment. Yesterday, Adani Wimar's bid was approved by the committee of creditors (CoC) of the bankruptcy-bound Ruchi Soya with about 96 percent votes in favour.
Adani Wilmar, which sells cooking oil under the Fortune brand, and Baba Ramdev-led Patanjali are in the fray to acquire debt-ridden Ruchi Soya.Adani has emerged as the highest bidder (H1) with an offer of about Rs 6,000 crore, while Patanjali's bid was worth around Rs 5,700 crore.
Patanjali group has also sought information about the parameters adopted by the RP to declare Adani Wilmar as highest bidder (H1), besides questioning the appointment of Cyril Amarchand Mangaldas as the RP's legal advisor as the said law firm was already advising Adani Group.
The Haridwar-based company has done well in the last financial year and expects to perform better in the current fiscal.
He also claimed that BJP president Amit Shah had shed 38 kilos by taking control of eating habits to stay healthy.
In an interim order, a bench of Acting Chief Justice Gita Mittal and Justice C Hari Shankar restrained ayurvedic firm 'Patanjali' from airing, telecasting and circulating the advertisements in any manner till September 26, the next date of hearing.
He also called for a boycott of Chinese goods, saying that India is ready to counter China on every front
The central stores department (CSD), retailer to Indian defence services has suspended sales of Patanjali's Amla juice following an adverse test lab report.
The company, a household name because of its mascot Baba Ramdev, will set up four manufacturing plants in as many cities in India this financial year, according to Balkrishna.
Bathroom products maker Parryware today said it has formed an association with Patanjali Ayurved under which the company would be supplying its faucets and sanitaryware products for the latter's projects across India.
As reported in Moneycontrol on Monday, the government may allow limited sale of beauty and personal care products in global giants' food retail outlets as part of plans to ease rules for multinationals to open stores in the country.
An entity called Life Sutra has alleged that Patanjali Ayurved is fooling people by branding their products as completely natural and herbal. The entity has alleged that in reality Patanjali's products are comprised majorly of chemicals.
The Nizamabad MP said Patanjali has sought a list of crops that Telangana produces, adding that preliminary details have been given to it.
"ICRA has upgraded the long term rating of Patanjali Ayurved Ltd from A minus to A plus for Rs 300-crore fund based facilities. The outlook on the long-term rating is Stable," ICRA said.
Top US and European multi-product retailers want the government to allow these stores to sell home and personal care products in a limited way. People privy to the development say that the government may accede to this demand.