Ruchi Soya to change the name of the company to Patanjali Foods

The board of Ruchi Soya also accorded its in-principle approval for evaluating the most efficient mode of enhancing synergies with Patanjali Ayurved Ltd's food portfolio on an arm's-length basis

The board of directors of Ruchi Soya Industries has decided to change the company's name to Patanjali Foods, the company said in a stock exchange filing on Monday. 

At its board meeting held on April 10, the directors also accorded their in-principle approval for evaluating the most efficient mode of enhancing synergies with Patanjali Ayurved Ltd's food portfolio in any manner on an arm’s-length basis, the company said. 

Ruchi Soya also authorised officials of the company to negotiate, finalise, execute and deliver the terms and conditions of the proposed transaction.