In 2019, Patanjali acquired Ruchi Soya through an insolvency process for Rs 4,350 crore.
Ruchi Soya of Baba Ramdev’s Patanjali Ayurved has recently raised Rs 4,300 crore through its follow-on public offering, and a part of the proceeds has been used to pay off debt.
- PTI
- Last Update:April 09, 2022, 13:22 IST
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Edible oil major Ruchi Soya on Friday said it has repaid bank loans of Rs 2,925 crore and has become a debt-free company. Baba Ramdev’s Patanjali Ayurved-led Ruchi Soya recently raised Rs 4,300 crore through its follow-on public offering, and a part of the proceeds has been used to pay off debt.
Acharya Balkrishna, MD, Patanjali Ayurved Limited, tweeted that Ruchi Soya has become debt free. A company spokesperson said that in the draft red herring prospectus, the company had mentioned that it would repay loans of about Rs 1,950 crore to the lenders.
However, the company has decided to repay the entire loan amount of Rs 2,925 crore to its lenders. The money was paid to a consortium of banks led by the State Bank of India. Other banks in the consortium are Punjab National Bank, Union Bank of India, Syndicate Bank and Allahabad Bank.
In 2019, Patanjali acquired Ruchi Soya through an insolvency process for Rs 4,350 crore.
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