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After a successful completion of the follow-on public offer, Ruchi Soya’s board has approved the rebranding of the edible oil company to Patanjali Foods Limited ‘ The core motivation of this move appears to be enhancing synergies with their parent company, Patanjali Ayurved.
Once approved, the nearly 40-year-old edible oil brand will cease to exist. Ruchi Soya is one of India’s leading edible oil brands. Nutrela, a soya chunks brand owned by Ruchi Soya is a market leader with over 40 per cent share in the industry. This comes after Ramdev’s Patanjali Group rescued the company from the brink of insolvency by acquiring it in 2019.
Debt-free company
After the successful completion of ₹4,300 crore FPO, the company had become debt free by repaying r ₹2,925 crore to debtors.
Apart from incorporating the Patanjali brand, the latest move is aimed at improving operational efficiencies, removing internal competition among group companies and reorganising their portfolio.
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