Baba Ramdev to launch IPO of Patanjali brands soon, say reports

Baba Ramdev has stated that he may soon launch the Initial Public Offering (IPO) of four companies under the Patanjali brand. These companies, which will be listed on the stock market within the next five years, are Patanjali Ayurved, Patanjali Lifestyle, Patanjali Wellness and Patanjali Medicine. In an interview with Zee Business, the yoga guru also stated that his company is planning to sell 6 percent promoters’ stake in Patanjali Foods, formerly known as Ruchi Soya Industries. “We will bring plans to reduce stake by November. We are in talks with domestic brokerage firm Motilal Oswal in this regard," Baba Ramdev told Zee Business. The stake sale in Patanjali will happen due to the government norms that do not permit over 75 percent promoter stake in a company listed on the exchanges. The promoters have over 80 percent stake in Patanjali foods. As for the IPOs, the other brands are hoping to follow the route of Patanjali Foods which has become profitable over the years. The shares of Patanjali Foods have hit the Rs 50,000 crore market cap mark and remain a cash cow for its investors. The company has also announced a Rs 5 per equity share dividend for all its shareholders, with 26 September as the record date. Patanjali Foods aims to capture the market in edible oils in particular. The Fast Moving Consumer Goods (FMCG) company has seen its shares grow exponentially since 2019. The stock price of Patanjali Foods has gone up from Rs 21 to Rs 1,393 levels on the Bombay Stock Exchange. On 12 September, Monday, the stock hit a high of Rs 1,415, its highest point in 52 weeks. The shares were trading at Rs 1,388.05 at 11:51 am. In FY 2022, Patanjali Foods registered a revenue of Rs. 24,205 crore, marking a growth of 48 percent compared to the previous financial year. Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.