2024-04-30 18:58:07
New Delhi: Shares of Baba Ramdev’s company Patanjali Foods Ltd rose by around Rs 31 as the market opened today. It went up to Rs 1609.00 in early trading on BSE. In the last session it closed at Rs 1577.80 and today opened at Rs 1598.40. Its 52-week high is Rs 1,741.00, which it touched on February 16 this year. On Saturday, news came that Baba Ramdev’s company Patanjali Ayurveda Limited is preparing to sell its non-food business. This includes the business of toothpaste, oil, soap and shampoo. Baba Ramdev’s listed company Patanjali Foods Limited has proposed to buy it. This is the reason why today the shares of Patanjali Foods are seeing a rise. Patanjali Foods Limited had informed the stock market that it has received a proposal to buy the non-food business of Patanjali Ayurveda Limited. The company’s board discussed the proposal on April 26 and has given in-principle approval for the valuation. Patanjali Ayurveda was founded by Baba Ramdev. He is the promoter of the company while Acharya Balkrishna is its MD. Patanjali Foods Limited was earlier known as Ruchi Soya Industries. In the year 2019, Patanjali Ayurved bought it for Rs 4,350 crore in the insolvency process. In June 2022, the name of the company was changed to Patanjali Foods Limited.
Baba Ramdev’s toothpaste, oil, soap, shampoo business ready to be sold! Know who is the buyer
Patanjali Foods business
Patanjali Foods had purchased Patanjali Biscuits Pvt Ltd in May 2021 for Rs 60.03 crore. After this, in June 2021, it bought the noodles and breakfast cereals business of Patanjali Ayurved for Rs 3.50 crore and then in May 2022, it bought the food business for Rs 690 crore. Patanjali Foods is today included among the top FMCG companies of the country. Apart from edible oil, the company’s business also extends to Food & FMCG and Wind Generation segments. Its portfolio includes brands like Patanjali, Ruchi Gold and Nutella. At 11.10 am, the company’s shares were trading at Rs 1584.55, up 0.43% on BSE.