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Insolvency: Ramdev's Patanjali makes over Rs 40-bn bid for Ruchi Soya

Godrej Agrovet and Emami Agrotech, too, had confirmed that they have put in bids for Ruchi Soya but did not disclose the value

Press Trust of India  |  New Delhi 

Patanjali, Baba ramdev
Baba Ramdev showing Patanjali products

FMCG firm has put in bid of over Rs 40 billion to acquire firm Ruchi Soya, according to sources.

Among other suitors that have put in bids to acquire debt-ridden are Adani Wilmar, Emami Agrotech and besides

already has a tie-up with for refining and packaging.

Indore-based Ruchi Soya, which is facing insolvency proceedings, has a total debt of about Rs 120 billion. The company has many and its leading brands include Nutrela, Mahakosh, Sunrich, and

"Patanjali has bid over Rs 40 billion for Ruchi Soya," a source said.

Last week, a Patanjali had said that the company has bid for as it aims to be a major player in segment, particularly It also wants to work for farmers' benefit.

and Emami Agrotech, too, had confirmed that they have put in bids for Ruchi Soya but did not disclose the value.

Sources had said that Adani Wilmar, which sells cooking oil under Fortune brand, also has put in a bid.

In December 2017, entered into the Corporate Insolvency Resolution Process (CIRP) and was appointed to act as Interim resolution Professional (IRP).

The appointment was made by the (NCLT) on the application of the creditors and DBS Bank Ltd, under the Insolvency and Bankruptcy Code.

Emami Agrotech is the edible oil and bio-diesel arm of of Companies, the Rs 100 billion, based in It has diverse business interests in segments such as production and distribution of edible oil, specialty fats and bio-diesel.

Godrej Agrovet, part of Godrej group, is into animal feed, crop protection, oil palm, dairy, poultry and processed foods.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Mon, May 07 2018. 22:22 IST