Patanjali bids over Rs 4,000 crore for Ruchi

New Delhi: Patanjali Ayurveda has put in bid of over Rs 4,000 crore to acquire bankruptcy-hit edible oil firm Ruchi Soya, according to sources. Among other suitors that have put in bids to acquire debt-ridden Ruchi Soya are Adani Wilmar, Emami Agrotech and Godrej Agrovet besides Patanjali. Patanjali Ayurveda already has a tie-up with Ruchi Soya for edible oil refining and packaging. Indore-based Ruchi Soya, which is facing insolvency proceedings, has a total debt of about Rs 12,000 crore. The company has many manufacturing plants and its leading brands include Nutrela, Mahakosh, Sunrich, Ruchi Star and Ruchi Gold.  Last week, a Patanjali spokesperson had said 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. PTI  

Advertisement