ruchi soya share price: Ruchi Soya jumps 8% after name change, Patanjali Ayurved agreement


NEW DELHI: Shares of climbed nearly 8 per cent in Wednesday’s trade as the company board renamed the company to ‘Patanjali Foods’ and entered into a business transfer agreement with Patanjali Ayurved to acquire the latter’s food retail business for Rs 690 crore.

The scrip, which was anyway trading higher, hit a high of Rs 1,168 so far on BSE, up 7.84 per cent.

As of March 31, Patanjai Ayurved held a 39.37 per cent stake in Ruchi Soya. Acharya

, one of the promoters and chairman of Ruchi Soya, holds 98.5 per cent of the paid up equity share capital of Patanjali Ayurved.

Patanjali Ayurved’s food retail business consisted of manufacturing, packaging labelling and retail trading of certain food products, along with manufacturing plants located at Padartha, Haridwar, and Newasa, Maharashtra. The deal is done as a going concern on a slump sale basis, Ruchi Soya said in a filing to BSE.

The annual turnover of the business stood at Rs 10,605 crore, the company said.

Patanjali Ayurved has a large portfolio of food business, which saw a growth of over 15 per cent in the last few years.

The management told ET NOW that it is striving to reach consistent double digit Ebitda growth on a consolidated basis.

FMCG component of business will now double with the inclusion of Patanjali food portfolio, ET NOW reported the management as saying.


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