Soon, Yoga guru Ramdev owned business will launch the initial public offering (IPO) of four companies as they are planning to be listed on the stock exchange.
Stock Exchange Listing
Giving more information, Baba Ramdev said these companies are Patanjali Ayurved, Patanjali Wellness and Patanjali Medicine and Patanjali Lifestyle, during an interview with Zee Business.
It is expected that these four companies will be listed on the stock exchange in the span of next five years.
Prior to this, Patanjali Ayurved bought Ruchi Soya for Rs 4,350 crore under a resolution process during 2019.
According to a report by HT’s sister publication Livehindustan, this company was already listed on the stock exchange.
After the takeover, its name changed to Patanjali Foods.
Now, stock prices of Patanjali Foods have reached a 52-week high.
Bullish Stock Run
Livehindustan report said that the stock price of the company was at Rs 1,380.35 on Friday.
Further, the stock price went up to Rs 1,400 during the trading hours.
A recent report prepared by research firm Antique indicated that confidence in the company’s growth, and a buy rating was suggested.
This report also suggests that the stock price can go up to Rs 1,725.
Coming to its growth, Patanjali Foods has emerged as one of the top fast-moving consumer goods (FMCG) players in India.Â
Besides this, it is also one of the leading manufacturers and marketers of a healthy range of edible oils.
Adding another milestone in the journey, the company laid the foundation stone for setting up an oil palm mill in Arunachal Pradesh On August 31.
A regulatory filing shows that the mill is located at Industrial Growth Centre, Niglok, District – East Siang, Arunachal Pradesh.
Apart from this, Patanjali Foods is also planning to undertake oil palm plantations on 38,000 hectares of land across nine districts in the state.
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