Ruchi Soya, the FMCG company run by yoga guru Ramdev Baba, said on Monday that its board of directors has authorised the company’s rebranding as ‘Patanjali Foods.’ The news comes only days after Patanjali launched its Rs 4300 crore follow-on public offering (FPO) on the stock exchanges on April 8, 2022.
“The Board of Directors have decided to change the name of the company to Patanjali Foods Limited or any other name as may be made available by Registrar of Companies, Maharashtra, Mumbai subject to all other applicable approval,” the company said in a regulatory filing.
The board also approved strengthening synergies with the Patanjali Ayurved food range at its April 10 meeting. It has also given the company’s executives the authority to negotiate, finalise, execute, and deliver the terms and conditions of the planned Patanjali Ayurved deal. Ruchi Soya also stated on April 8 that it had returned Rs 2,925 crore in bank loans and was now debt-free after obtaining Rs 4,300 crore. At 11:45 a.m. on the BSE, Ruchi Soya’s shares were trading at Rs 976.8 a share.
