In chat with Anil Singhvi, Swami Ramdev says Patanjali saved Ruchi Soya from going bankrupt | big REVEAL about jobs, investors wealth
In a candid chat with Yoga guru Swami Ramdev, Zee Business Managing editor Anil Singhvi on Wednesday talked about Ruchi Soyas unprecedented growth, its FPO and even revealing intent of reducing promoters stake in the company.
In a candid chat with Yoga guru Swami Ramdev, Zee Business Managing editor Anil Singhvi on Wednesday talked about Ruchi Soya’s unprecedented growth, its FPO and even revealing intent of reducing promoters' stake in the company.
Replying to a question about his plan to reduce stake in the company, Swami Ramdev said he has saved a company that was declared a NPA and prevented it from going bankrupt. As per SEBI norms, the promoters of the company are required to reduce their stake by 10 per cent by June 2021. Ramdev said. “The company was good, its factories were also good, it also had quality products, however, it turned into NPA for some reasons. We did not only save the company, but we also secured jobs of lakhs of people and now plan to add another lakh through its vast distribution chain,” said Ramdev. Yes, that is 100,000 jobs in the offing, according to Ramdev's big revelation.
Watch the detail coveage in the video below:
Talking further to Zee Business Managing Editor, he explained that in order to bring Ruchi Soya FPO, the promoters need to cut down their stake by 10 to 25% in the company. He said he will speak about how much the company’s promoters will reduce their stake later.
As far as investors are concerned, Ramdev had some good news. He said, one thing that is sure is that one portion of the stake sale will be sold in the market. Ramdev said the aim is to give an opportunity to retail investors to increase their wealth.
“As you said, I have given the gift of health to the people, now I’ll also help them grow their wealth. I believe in trusteeship and think everyone should take this company forward together,” Ramdev said while replying to the Market Guru’s question of reducing his stake in the company.
Talking further, he said that since the time the company was taken over by Patanjali, he has taken many decisions concerning its revival. From its expansion at domestic level to taking it to international market, looking after its exports, reviving closed units, many such decisions were taken by him to ensure it prospers.
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