Tag: 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...