Currently, Patanjali Foods is the only listed company of the group.
Yoga expert and entrepreneur Baba Ramdev will announce IPO plans for five of his Patanjali Group companies at a press conference on Friday, September 16. Ramdev intends to launch five new initial public offerings over the next five years.
In a press release, Patanjali said, “We are pleased to inform you that Swami Ramdev Ji Maharaj will deliver a major press conference on September 16, 2022 in New Delhi.”
Ramdev also plans to “expose the conspiracies and efforts of rumor mongers who spread false facts and figures with vested motives to denigrate Patanjali and his Swadeshi movement towards a stronger and healthier India” during the press conference, according to the release.
He added that Ramdev will present Patanjali’s “Vision and Mission 2027”, detailing the group’s five main goals over the next five years, with the aim of making India self-reliant.
Currently, Patanjali Foods is the only listed company of the group. However, the IPO of this company did not pass under the leadership of Ramdev. Instead, the company, listed as Ruchi Soya, was bought by Patanjali Ayurved in 2019 for Rs 4,350 crore as part of a resolution process.
According to Patanjali’s financial report for 2022, the company’s revenue rose to Rs 10,664.46 crore from the previous tax revenue of Rs 9,810.74 crore. Net profit, however, fell slightly to Rs 740.38 crore from Rs 745.03 crore in FY22.
(Edited by : Shoma Bhattacharjee)
First post: STI