Yoga guru Baba Ramdev-led Patanjali Ayurved firm to take over cooking oil and soya-products maker Ruchi Soya Industries Ltd. for INR₹ 4,350 crore, a company court approved the bid by a group of firms controlled Ramdev.
Patanjali Consortium Adhigrahan Pvt. — a venture by Patanjali Ayurved Ltd. and three other companies — will merge with Ruchi Soya as per the stock exchange filing on Saturday.
Shareholders of Patanjali Consortium will get one share of Ruchi Soya for each that they hold in the former.
The filling says creditors of Ruchi Soya will receive a maximum of INR₹ 4,240 crore in repayments. And about INR₹ 110 crore will be used to finance the expansion of Ruchi Soya after the merger.
Shares of Ruchi Soya gained 1.1 percent to INR₹ 4.60 in Mumbai on Friday after slumped 49 percent this year.
With the acquisition of Ruchi Soya, Patanjali will become a major player in soybean oils and other products. Ruchi Soya has many manufacturing plants and its leading brands include Nutrela, Mahakosh, Sunrich, Ruchi Star and Ruchi Gold.
Source : Various