Fri, 16 Sep 2022 03:20 PM IST
BABA Ramdev on Friday announced that Patanjali will be launching Initial Public Offerings (IPOs) of four other group companies over the next five years. The companies include Patanjali Ayurved, Patanjali Medicine, Patanjali Lifestyle, and Patanjali Wellness.
"We will be launching Initial Public Offerings (IPOs) of four other group companies over the next five years," Ramdev mentioned at a press conference in New Delhi.
Additionally, he also informed that Patanjali Group will give job opportunities to 5 lakh people in the coming years. He stated that the turnover of Patanjali Group is expected to jump 2.5 fold to Rs 1 lakh crore in the next 5-7 years and will also launch the initial public offerings of four group companies.
He said the Patanjali Group firm, Patanjali Foods (erstwhile Ruchi Soya), is already listed on stock exchanges and its market capitalisation has touched around Rs 50,000 crore.
Patanjali Group had acquired Ruchi Soya for Rs 4,300 crore through insolvency proceedings. The Group launched the Follow-on Public Offering (FPO) of Ruchi Soya and renamed it Patanjali Foods.
Ramdev asserted that the qualities of all products of Patanjali Group are good and said that efforts are being made by religious, political, medical, and MNC "mafias" to tarnish the image of its brand.
Without naming any people and organisations, he said the Group has given legal notices to more than 100 people and also lodged FIRs.
Ramdev also announced that Patanjali Yogpeeth will make investments of more than Rs 1,000 crore in Uttrakhand in order to improve public health in the state and will promote its rich culture.
Patanjali Ayurved's Indian-made products, such as pills to boost immunity, cooking ingredients, and personal care items, ride big on Modi's push for Indian-made goods. The company has tried to grab market share in the natural segment from consumer giants Hindustan Unilever, Colgate Palmolive (India), and Procter and Gamble Hygiene and Health Care.
Meanwhile, Ramdev also announced that Patanjali Yogpeeth will make investments of more than Rs 1,000 crore in Uttrakhand in order to improve public health in the state and will promote its rich culture.
(With inputs from agency)