Baba Ramdev on Tuesday said that plans are afoot to make Ruchi Soya, which has filed for a follow-on public offer (FPO) to raise upto ₹4,300 crore, debt-free in due course. The group may also look at going for an IPO for Patanjali Ayurved in the future.
Speaking to mediapersons at a virtual briefing, Baba Ramdev said the Patanjali Group aims to make all its companies debt-free. He said that provision has been made to allocate 40 per cent of the funds that will be raised through the proposed FPO, to pare the debt of Ruchi Soya. He added that Ruchi Soya currently has a debt of about ₹3,300 crore. “Becoming debt-free as a group is one of our key commitments,” he said.
Replying to a query, Baba Ramdev said the company will also look at going for an IPO for Patanjali Ayurved, which is the FMCG arm of Patanjali Group, in the future but did not reveal a timeline for the same.
“Despite the pandemic, Patanjali Ayurved achieved a turnover of ₹9,783.81 crore in FY 21. We did not need to shut our production facilities and managed our supply chains well during the second pandemic wave,” he added.
The group claimed that its overall turnover in FY21 has increased to about ₹30,000 crore. “Patanjali Group closed FY21 with a turnover of about ₹14,000 crore. At the same, we also managed to turnaround Ruchi Soya. Its turnover increased by about 24 per cent to ₹16,318 crore,” Baba Ramdev said.
Patanjali Group consists of various subsidiaries including Patanjali Natural Biscuits, Divya Pharmacy, Patanjali Agro, Patanjali Parivahan and Patanjali Gramodhyog.
“We have aggressive investment plans for future growth for research and development as well as across various businesses such as edible oils, agri business, herbal parks and wellness centres among others. We have plans to invest over ₹5,000 crore in the next few years,” he added.
Meanwhile, the company also announced its foray in the nutraceuticals space and said that about 10 products have already been launched and 15 more will be launched in the next 12 months.