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Sebi warns Baba Ramdev for making dubious claims ahead of Ruchi Soya FPO

In a viral video, Ramdev is seen asking his followers to buy shares of Ruchi Soya Industries if they want to become crorepatis

Baba Ramdev
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Patanjali Ayurved group, which is currently unlisted, is the promoter of Ruchi Soya

Samie Modak Mumbai
Yoga guru Baba Ramdev has got away with a mere rap from market regulator Securities and Exchange Board of India (Sebi) for making dubious investment promises.

In a viral video, Ramdev is seen asking his followers to buy shares of Ruchi Soya Industries if they want to become crorepatis. The comments came ahead of the company’s Rs 4,500-crore fundraise by way of a follow-on offering (FPO).

“Ruchi Soya’s FPO is being talked about. I give you the mantra to become a crorepati. Open a demat account today itself. Buy shares of Ruchi Soya when I tell you. After that shares