Yoga guru Ramdev initiates the initial public offering (IPO) of four companies that subsequently go public.
In an interview with Zee Business, Ramdev said these companies are Patanjali Ayurved, Patanjali Wellness and Patanjali Medicine and Patanjali Lifestyle. The companies will be listed on the stock exchange over the next five years.
In 2019 Patanjali bought Ayurved Ruchi Soya for €4,350 crore in a liquidation process. That company was already publicly listed, according to a report by HT’s sister publication Livehindustan. The company’s name was changed to Patanjali Foods.
Patanjali Foods stock price has hit a 52-week high. On Friday, the company’s share price was at €1,380.35, the Livehindustan report added. During trading, the stock price rose €1,400
Recently, a report prepared by market research firm Antique showed confidence in the company’s growth and suggested a buy recommendation. The report also said the stock price may rise €1,725
Patanjali Foods has grown into one of the leading Fast Moving Consumer Goods (FMCG) suppliers in India. It is also one of the leading manufacturers and marketers of a healthy range of cooking oils.
On August 31st, the company laid the foundation stone for the construction of a palm oil mill in Arunachal Pradesh. According to a government application, the plant is located at Industrial Growth Centre, Niglok, District – East Siang, Arunachal Pradesh.
Patanjali Foods is planning oil palm plantations on 38,000 hectares of land in nine districts of the state.
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