The firm has hired investment banks such as JP Morgan and Kotak Mahindra Capital to manage the initial public offer
Patanjali to infuse Rs 3,438 cr in Ruchi Soya to settle creditors' dues, monitoring panel to oversee process
Ruchi Soya informed that resolution applicant Patanjali group will infuse Rs 204.75 crore as equity and Rs 3,233.36 crore as debt.
The NCLT approval comes after it dismissed the petitions filed by Standard Chartered Bank and Singaporean lender DBS, which had both challenged the low bid by Patanjali and the resultant lower payout.
Ruchi Soya insolvency: Baba Ramdev's Patanjali bags edible oil firm as lenders approve Rs 4,325 crore bid
Patanjali acquired Ruchi Soya Industries in an insolvency auction started by lenders to recover over Rs 9,300 crore loans
Ruchi Soya insolvency: Lenders to meet Friday to consider Patanjali's revised offer to acquire edible oil firm
Patanjali had last month increased its bid value by around Rs 200 crore to Rs 4,350 crore for bankruptcy-bound Ruchi Soya
Baba Ramdev's Patanjali Ayurved raises bid value to Rs 4,350 crore to take over bankruptcy-bound Ruchi Soya
Adani Wilmar, which emerged as the highest bidder in August last year after a long drawn battle with Patanjali, has withdrawn from the race
NCLT allows Ruchi Soya management to get copy of resolution plans; says it will start regular hearing on the matter from 5 March
A resolution for Ruchi Soya, which owes about Rs 12,000 crore to the lenders, has been moving between Ram Dev's Patanjali and Adani Wilmar
Insolvency proceedings: Bidders to face jail term, penalty if they pull out from plans to take over stressed firms
Apart from invoking section 74 of the Insolvency and Bankruptcy Code, which provides for a jail term, the government may impose a maximum Rs 1 crore penalty
Patanjali renews interest in Ruchi Soya takeover as Adani Wilmar raises asset concerns of edible oil firm
Patanjali Ayurved has approached the NCLT challenging the decision by Ruchi Soya's lenders to approve Adani Wilmar's Rs 6,000 crore takeover bid.
Patanjali to focus on agriculture; bring out more products from farm, food processing sector: Baba Ramdev
Patanjali Ayurved last month entered into the cow milk segment by launching cow milk and milk-based dairy products and also has plans to launch its apparel brand 'Paridhan'.
Ruchi Soya's promoter entity Disha Foundation Trust sold these shares on 24 August
Patanjali Ayurved moves NCLT against Ruchi Soya lenders for approving Adani Wilmar's Rs 6,000 cr bid
While Adani Wilmar emerged as the highest bidder with a Rs 6,000 crore offer, Patanjali group came second with a Rs 5,700 crore bid.
Adani group firm Adani Wilmar, which sells cooking oil under Fortune brand, and Baba Ramdev-led Patanjali were in the fray to acquire Ruchi Soya.
Ruchi Soya, which is facing insolvency proceedings, has a total debt of about Rs 12,000 crore.
Ruchi Soya insolvency: Patanjali won't back out from race to acquire debt-laden company, says Acharya Balkrishna
Adani Wilmar, which sells cooking oil under the Fortune brand, and Baba Ramdev-led Patanjali are in the fray to acquire debt-ridden Ruchi Soya
Ruchi Soya auction: Resolution professional seeks 8-10 days to reply on issues raised by Patanjali Ayurved
Patanjali group has also sought information about the parameters adopted by the RP to declare Adani Wilmar as highest bidder
Last week, Ruchi Soya had in a regulatory filing confirmed that the CoC declared Adani Wilmar as H1 (highest) bidder and Patanjali stood as H2 (second highest).
Ruchi Soya in a regulatory filing on Wednesday confirmed that the CoC declared Adani Wilmar as H1 (highest) bidder and Patanjali stood as H2 (second highest)
Adani group emerges as highest bidder with Rs 6,000 cr offer for Ruchi Soya; Patanjali can up its Rs 5,700 cr bid
The Committee of Creditors (CoC) of Ruchi Soya, in its meeting held on Tuesday, opened the bids submitted by the two contenders -- Patanjali group and Adani Wilmar, which sells cooking oil under the Fortune brand.
Patanjali likely to submit revised offer for Ruchi Soya today after lenders decide to hold fresh round of auction
Baba Ramdev-promoted Patanjali Ayurved, which is in the race with Adani group to acquire bankruptcy-hit Ruchi Soya, is likely to submit a revised bid on Monday