Points to Remember:
- Baba Ramdev-led Patanjali Ayurved will infuse over Rs. 3,438 crore as equity and debt to settle dues of creditors of the debt-laden firm Ruchi Soya.
- Patanjali got the NCLT approval last week to acquire Ruchi Soya in an insolvency process.
- The amount will be infused in a special purpose vehicle ‘Patanjali Consortium Adhigrahan’, which will be later amalgamated with Ruchi Soya.
- On 30 April, a committee of creditors approved Patanjali group’s Rs. 4,350-cr resolution plan to take over Ruchi Soya, which is into edible oil business
- Ruchi Soya informed that resolution applicant Patanjali group will infuse Rs. 204.75 crore as equity and Rs. 3,233.36 crore as debt.
- Another Rs. 900 crore will be infused by the Patanjali group through subscription of non-convertible debentures and preference shares in the SPV.
- It will also provide credit guarantee of nearly Rs. 12 crore.
About Ruchi Soya:
- Ruchi Soya was India’s largest manufacturer of edible oil.
- Ruchi Soya has been ranked at 175 in the top 250 consumer products companies, in the “Global Powers of the Consumer Products Industry 2012”, according to report published by
- Deloitte Touche Tohmatsu.
- Headquarters: Madhya Pradesh
- Founded: 1986
- Subsidiaries: Ruchi Worldwide Limited, Palm Tech India Limited, etc.
Important Possible questions based on above News:
- Who will infuse over Rs. 3,438 crore as equity and debt to settle dues of creditors of the debt-laden firm Ruchi Soya? Patanjali Ayurved
- How much amount will be infused by Patanjali Ayurveda as equity in Ruchi Soya? Rs. 204.75 crore
- Where is the headquarter of Ruchi Soya situated? Madhya Pradesh