New Delhi: Patanjali, a company of Yoga Guru Baba Ramdev, is steadily strengthening its hold in the Ayurveda market. The Ayurveda giant has recently launched several products. The company has also forayed into new business. Patanjali Ayurved has announced a major capital investment. The company has announced to infuse Rs 3,438 crore in Ruchi Soya. The company will help settle the dues of Ruchi Soya's lenders. This capital will be invested in the form of equity and debentures.
In this context, Ruchi Soya told the stock exchanges that the Mumbai Bench of the National Company Law Tribunal approved Patanjali's Rs 4,350 crore resolution plan with some modifications in a September 6 order. The company said that the solution applicant Patanjali Group will infuse capital of Rs 204.75 crore as equity and Rs 3,233.36 crore in the form of debentures.
The amount will be poured into the special purpose entity 'Patanjali Consortium Acquisition Private Limited'. Whose interest will later merge with Soya's. Lenders have lost more than 60 percent. Ruchi Soya told the stock market that out of the Rs 4,350 crore offered by the Patanjali group, Rs 4,235 crore will be used to pay lenders' dues, while Rs 115 crore will be used for capital expenditure and working capital of Ruchi Soya. Will meet the needs of Patanjali said that it would be fully monitored.
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