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Patanjali going to issue its first debentures, looking to raise $33 million

27May By PriyankaNo Comments

Market

Patanjali going to issue its first debentures, looking to raise $33 million

NEW DELHI, 27th May 2020: India's leading natural product based FMCG company Patanjali Ayurved plans to issue $33 million (Rs 250 crore) debentures to meet its working capital requirements and strengthen supply chain network. This would be the first-ever issuance of debentures by the Haridwar-based firm, which has emerged as one of the leading companies in the FMCG segment in recent years. The non-convertible debentures (NCDs) will carry a coupon rate of 10.10 per cent with a tenure of three years. The maturity date is May 28, 2023. According to information, the bidding date would start on May 28 for NCDs, which would be listed on the stock exchanges and are redeemable. "In this pandemic, demand for Ayurveda-based products, which help in boosting immunity, along with other produc...

Logistics Startup Baxi-Fresh Raises 2 Crore INR

3Apr By AdityaNo Comments

FUNDING

Logistics Startup Baxi-Fresh Raises 2 Crore INR

Delivery start-up Baxi-Fresh has raised Rs 2 crore from its existing investors, including Alok Mittal, founder and CEO of Indifi Technologies, Nitin Singhal, a UK-based angel investor and Mahendra Pratap, founder and CEO of Shiksha Infotech. The company said it aims to use the funds to expand and launch its delivery services in 200 residential neighbourhoods in Gurugram and New Delhi by July this year. "With this bridge investment we will quickly scale our operations. The money will be used to hire key team members, market the service and strengthen our operations as we gear up to cover the entire Delhi-NCR region over the next few quarters," Baxi-Fresh founder and CEO Ashutosh Johri said. Baxi-Fresh employs part-time delivery staff who deliver milk, groceries and other household ...

UP Govt Appeals For Extra 15 Days For Patanjali’s Food Park Project

14Jun By Gauri SinghNo Comments

INDIA

UP Govt Appeals For Extra 15 Days For Patanjali’s Food Park Project

Patanjali Ayurveda Limited had failed to present the fresh documents regarding the sub-leasing of the land assigned to them for a project that aimed to build a mega food park along the Yamuna Expressway. Followed by the event, the government of UP has requested to the Centre in writing, that Patanjali should be given 15 more days to observe and meet the requirements for the proposed Rs 6,000 crore mega food park. the Union Food Processing Ministry had given a deadline to the leading FMCG company till 15 June 2018. The company till then was expected to fulfill the required conditions and get acceptance for setting up the park along the highway. But since the UP Government wants a little more time, Anup Chandra Pandey, Infrastructure and Industrial Development Department Commissioner o...

Patanjali’s Kimbho Removed from Google Play Store

1Jun By Gauri SinghNo Comments

News

Patanjali’s Kimbho Removed from Google Play Store

WhatsApp's rival, Patanjali's messaging app Kimbho that was being talked about yesterday, has now disappeared from the Google Play Store as well as from its own webpage. Within a day of its launch, the 'Swadeshi Messaging Platform' has been suspended due to some security issues as reported by some users who downloaded it for the day. At the time of its availability, the app reached up to 1.5 lakh downloads and was rated 3.9 out of 5. The spokesperson of Patanjali S K Tijarawala who confirmed its launch yesterday has now tweeted that Kimbho was only updated for a day on 'trial basis' and would soon make a comeback with a formal launch. On the other hand, a message on Kimbho's twitter page said that the app was facing heavy traffic issues and is now in the process of upgrading its serv...

Everything You Need to Know About Baba Ramdev’s Swadeshi Chat App : Kimbho

31May By Gauri SinghNo Comments

News

Everything You Need to Know About Baba Ramdev’s Swadeshi Chat App : Kimbho

After the telecommunication sector, Yoga Guru Baba Ramdev is venturing into the social media sector. Baba Ramdev’s Patanjali has now introduced a new messaging application called Kimbho, right after launching its very own sim card in association with Bharat Sanchar Nigam Ltd (BSNL) on Tuesday. It is being strongly believed that Patanjali's Kimbho has been created to give a tough competition to the most popular messaging platform, Whatsapp Messenger and also to other similar apps. The tagline of this Indian application says "AB BHARAT BOLEGA”, which in English, means ‘Now India will speak’. The all-new app is thus, being promoted as the “swadeshi messaging platform”. The news was confirmed as SK Tijarawala, Patanjali’s spokesperson tweeted, Now Bharat will speak. After launching SIM car...

Future Group to Acquire Iraya to Compete With Rival Patanjali

30May By Gauri SinghNo Comments

BUSINESS

Future Group to Acquire Iraya to Compete With Rival Patanjali

Kishore Biyani, the founder and chief executive officer (CEO) of Future Group is eyeing to acquire the Gujarat-based Ayurveda company Iraya from Athena Life Sciences. Iraya is an ethical cosmetic brand which deals in herbal beauty and personal care products. This sector has lately seen a great success and Biyani is all set to enter it. With this acquisition, Baba Ramdev’s ayurvedic brand Patanjali should gear up to face a tough competition in the market. Similar to Patanjali, Iraya sells ayurvedic products such as ayurvedic oil, facial massage cream, neem and basil soap, hair gel, nutrifying skin food and face wash, among others. It also deals in herbal products for anti-dandruff and hair re-growth treatment. “We are in talks for acquisitions in the ayurvedic beauty space. Valuations m...

Patanjali ties up with BSNL to Launch SIM Cards

28May By Lavina TolaniNo Comments

News

Patanjali ties up with BSNL to Launch SIM Cards

After moving the country with its economic and evergreen consumer products, Yog guru Baba Ramdev's Patanjali has marked a debut in the telecom sector. Patanjali has launched a Swadeshi Samriddhi SIM card in collaboration with Bharat Sanchar Nigam Limited (BSNL) at an event witnessing inaugural by Baba Ramdev. Going in with the soft launch, only the employees and office bearers of Patanjali will be able to avail the benefits of the SIM card. However, once the full-fledged launch goes onboard people will get discount of 10 percent on Patanjali products with this card. Having a Patanjali sim will allow users to get a recharge done for Rs. 144 allowing unlimited calls across the country with a 2 GB data pack and 100 SMSs. Moreover, users will also be entitled to health, accidental ...

Patanjali Denies 9,000 Crore Bid to Acquire Ruchi Soya

27Apr By Sheldan RungasamyNo Comments

BUSINESS

Patanjali Denies 9,000 Crore Bid to Acquire Ruchi Soya

Patanjali, India's fast moving consumer goods (FMCG) company founded by Baba Ramdev denied reports suggesting that it placed a bid to acquire debt-ridden edible oil maker Ruchi Soya Industries for Rs 9,000 crore. A spokesperson for the company SK Tijarawala wrote in a tweet, “The news of applying a bid of 9,000 crore rupees by Patanjali is wrong. We are evaluating. We understand the value of money of the common people of this country.” However, SK Tijarawala did not deny Patanjali’s interest in acquiring the firm, but for a lesser price. “After examining the company’s vitals and balance sheet, the value of the deal should be at most between Rs 1,800-2,000 crore,” he said. He also describes the acquisition as synergistic with Patanjali’s values since it was “swadeshi. Vital resource...

Patanjali Goes Online, Aims Over Rs 1,000 Crore Sales in 2018

17Jan By kriti singhNo Comments

BUSINESS

Patanjali Goes Online, Aims Over Rs 1,000 Crore Sales in 2018

Baba Ramdev-led Patanjali Ayurved today announced its foray into e-commerce for its FMCG items, partnering major players in the space, including Amazon and Flipkart, and targeting over Rs 1,000 crore this year itself. The Haridwar-based company said it has partnered eight players, which also include Grofers, Shopclues, BigBasket, 1mg, Paytm Mall and Netmeds, through which its entire range of products would be available online. Besides, Patanjali said it will also expand into new product segments such as bottled water through brand 'Divya Jal' and apparels and footwear under the brand name 'Paridhan' this year. "Online mechanism aims to provide convenient and efficient options along with extension of traditional retail market", said Baba Ramdev. He further added: "We are target...

Patanjali to Wipe Out MNCs From Indian Market in 5 yrs: Baba Ramdev

1May By RishabhNo Comments

Entrepreneurs Talk

Patanjali to Wipe Out MNCs From Indian Market in 5 yrs: Baba Ramdev

Yoga guru Ramdev said today that Patanjali Ayurveda, promoted by him, will steal the march over multinational firms manufacturing consumer products. Comparing them to the East India Company that had entered the country with a purpose to "loot", Ramdev said that he aims to make India free from the MNCs. He said that the MNCs here were not working for the countrys development, rather their sole objective was to "loot" India. "Patanjali agle panch varshon mein in videshi kampaniyon ko moksh de degi ( Patanjali will finish the MNCs up from the Indian market in next five years)," he said. He was speaking at a function organised here to mark the birth anniversary of Yogi Bharat Bhushan. "In the next five years, Patanjali would educate the farmers about the latest techniques in far...

Patanjali Will Soon Expand Globally- Acharya Balkrishna

23Apr By AdityaNo Comments

Entrepreneurs Talk

Patanjali Will Soon Expand Globally- Acharya Balkrishna

Patanjali Ayurveda's Co-Founder and CEO Acharya Balkrishna on Thursday announced that the company is planning to expand globally in the near future, while addressing a 'Made in India - Food Buyer Seller Meet' organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) and Agricultural and Processed Food Products Export Development Authority ( APEDA). He urged players of food processing sector to come together and promote healthy food products. "This initiative taken by FICCI is an example of industry players taking a step towards making Indian food industry an international brand accepted by all. Patanjali Ayurveda Ltd. is committed to go global and fight adulteration in Food industry," said Balkrishna. Patanjali already has its presence in many countries, ther...

Patanjali Ayurved to Invest Rs 1,300 Crore in Assam

6Nov By Press Trust of IndiaNo Comments

INDIA

Patanjali Ayurved to Invest Rs 1,300 Crore in Assam

Patanjali Ayurved, the FMCG venture promoted by Yoga guru Ramdev, will hire around 5000 people at its upcoming Rs 1,300-crore facility in Assam by the end of this fiscal year. Assam Chief Minister Sarbananda Sonowal today laid the foundation stone of the Patanjali Herbal and Mega Food Park at Balipara in Sonitpur district. "The unit will give direct employment to 5000 people and benefit one lakh farmers. The complete profit from the Food Park will be dedicated for the welfare of Assam by setting up school and skill development centres in each district," Ramdev said at a function. "The unit will give direct employment to 5000 people and benefit one lakh farmers. The complete profit from the Food Park will be dedicated for the welfare of Assam by setting up school and skill developme...