Sep 16, 2022
Patanjali eyes stock market debut of 4 group firms
Sep 16, 2022
Indian consumer group Patanjali, co-founded by a well-known yoga guru, said on Friday it plans to list four group companies as part of its vision for 2027, as the producer of affordable, local-made goods takes on bigger rivals like Unilever and P&G.
Baba Ramdev, a family title whose TV yoga reveals are watched by tens of millions, has been the general public face of Patanjali because it was arranged in 2006 and stays its model ambassador – his bearded face smiles down from ubiquitous billboards and hoardings in Indian villages.
Patanjali stated it will listing its primary client items firm, Patanjali Ayurved, the majority of which is owned by Ramdev’s enterprise companion Acharya Balkrishna, who has a web value of $2.1 billion in accordance with Forbes.
Patanjali Ayurved’s Indian-made merchandise, resembling tablets to spice up immunity, cooking substances and private care objects, experience large on Prime Minister Narendra Modi’s push for local-made items within the nation.
The corporate has tried to take market share within the pure section from client giants Hindustan Unilever, Colgate Palmolive (India) and Procter & Gamble Hygiene and Wellbeing Care.
At present, solely one of many group firms, Patanjali Meals Ltd, is listed on the inventory market. The group acquired edible oil firm Ruchi Soya Industries in 2019 and renamed it Patanjali Meals this year.
Patanjali stated it’ll additionally listing its drugs, wellness, and life-style items.
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