Patanjali does not want to leave Ayurveda oil-making company Interest Soya under any circumstances. Baba Ramdev‘s company interest has increased the soya bid. Sources said that the new bid introduced by Patanjali is 30 percent higher than the bid of Adani Group.
After being the country’s second-largest company after Hindustan Unilever, Patanjali Ayurveda is not taking any breath. Under the leadership of Yoga Guru Baba Ramdev, this company has joined the competition to buy the debt under the debt burden of interest. Interest is a soya edible oil (Edible Oil) giant, which banks have pulled into the NCLT for not paying the loan amount. Now interest is going to be auctioned under the Soya Insolvency and Bankerpatias code.
Baba Ramdev can prove to be helpful in achieving the goal of dominating the FMCG market of interest Soya. Last month, Ramdev had said that Patanjali was involved in an all-inclusive campaign to snatch 25 to 50 percent of the stake from multinational companies in the country’s consumer market. He said, “My goal is to give turnover of 20,000 to 25 thousand crore turnover of our company over the next 3 to 5 years. We will be retreating multinational companies. My agenda is well known.
Interested with the capacity of 37 million 20 thousand metric tons of crushing, Soya is India’s largest company. There are 24 plants in the company’s packaging of crushing, milling, refining and edible oil. It is the largest exporter of Value Added Soya Products. By December 31, 2017, the company had a debt of 12 thousand crores. Its bad loan of Rs 4,000 crore has been off and it has a net loss of Rs 498 crore.
In March last year, Patanjali had signed an agreement with Ruchi Soya for refining, processing, and packaging of edible oil. A few months later Patanjali made another deal with Ruchi Soya. This deal was exclusively sales and distribution of Patanjali’s large compartments of edible oils.
Earlier, Patanjali’s interest was refuting news of Soya’s involvement in the bid, but on Wednesday, she made a bid of 9,000 crore rupees. In addition to Patanjali, Godrej Agrovet, Adani, Wilmer and Emami have also bid for interest soya.
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