Adani group highest bidder for Ruchi Soya, but Patanjali is still in race

Baba Ramdev's Patanjali Ayurved, keen on acquiring Ruchi Soya, isn't out of the race yet and will have a right to match Adani Wilmar's offer

Adani Wilmar has emerged as the highest bidder for the bankrupt edible oil manufacturer Ruchi Soya, but yoga guru Ramdev-promoted Patanjali Ayurved might still have a chance, according to media reports.

Billionaire Gautam Adani's company has offered about Rs 60 billion for acquiring Ruchi Soya, sources told news agencies. Patanjali, the only other qualified player in the race, bid for around Rs 57 billion. 

The declaration of the winner has yet to come since “banks and the resolution professional (RP) settle conflict of interest issues and the two are allowed to better each other’s offer”, the Economic Times reported, citing