Ramdev, a yoga master, will start four businesses’ initial public offerings (IPOs), which will result in their stock exchange listing.
Ramdev identified these businesses as Patanjali Ayurved, Patanjali Wellness, Patanjali Medicine, and Patanjali Lifestyle in an interview with Zee Business. Over the next five years, the companies will list on the stock exchange.
Under a settlement process, Patanjali Ayurved acquired Ruchi Soya for $4,350 crore in 2019. According to a report from HT’s sister publication Livehindustan, this company was previously listed on the stock exchange. The business is now known as Patanjali Foods.
Patanjali Foods’ stock price recently surpassed a 52-week high. According to the Livehindustan article, the company’s stock price on Friday was 1,380.35 rupees. The stock price increased during trading to $1,400.
In a recent analysis, research firm Antique expressed confidence in the company’s expansion and recommended a buy recommendation. The stock price might increase to $1,725 according to the research.
One of India’s leading fast-moving consumer goods (FMCG) companies is Patanjali Foods. It is also a marketer and manufacturer of a wide variety of healthful edible oils.
The business poured the first stone for the construction of an oil palm factory in Arunachal Pradesh on August 31. According to a regulatory filing, the mill is situated at Industrial Growth Centre, Niglok, District – East Siang, Arunachal Pradesh.
On 38,000 hectares of land spread out across nine districts in the state, Patanjali Foods intends to start oil palm plantations.