Patanjali Foods to sell 6% stake by December, Baba Ramdev tells Anil Singhvi; says plans to launch 5 more IPOs

Baba Ramdev interview with Anil Singhvi:Edible oil major Patanjali Foods, formerly known as Ruchi Soya Industries, will sell six per cent additional promoters' stake by December, Baba Ramdev told Zee Business Managing Editor Anil Singhvi in an exclusive interview on Friday. The stake sale in Patanjali Foods is part of the mandatory norms that limit promoters holding of a listed company to 75%. Currently, promoters hold over 80% stake in Patanjali Foods.  

"We will bring plans to reduce stake by November. We are in talks with domestic brokerage firm Motilal Oswal in this regard," he said.  

Swami Ramdev said Patanjali Foods, which touched 50,000-crore market cap mark on Friday, will remain a debt free firm. We also strive to make it the world's largest palm plantation company, he said, adding we aim to earn Rs 2000 crore profit from its palm oil business.  

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योग गुरु #SwamiRamdev से खास बातचीत..#Patanjali का विस्तार प्लान ?

स्वामी रामदेव के बिजनेस मंत्र#PatanjaliFoods का M-CAP ₹50,000 करोड़ के पार@AnilSinghvi_ @yogrishiramdev @PypAyurved @Patanjali_foods @asthana_sanjeev https://t.co/Q8IBpCTum0

— Zee Business (@ZeeBusiness) September 9, 2022

Patanjali Foods Limited is a diversified conglomerate with business interests across edible oil and derivatives, oil palm plantation, food & FMCG and nutraceutical business. In FY 2022, the company generated a revenue of Rs. 24,205 crores, registering growth of 48% compared to the previous financial year.   

Talking on the plans of listing Patanjali group companies on the exchanges, he said we aim to bring IPOs of five companies, including Patanjali Ayurved, in the near future.  

He also said that company aims to achieve an EBITDA of Rs 5000-6000 crore. EBITDA stands  for earnings before Interest, taxes, depreciation and Amortization. It measures overall financial performance of a company. 

On Friday, shares of Patanjali Foods was trading marginally lower by one per cent to Rs 1360.50  per share in BSE intraday trade around 12.40 pm.