Patanjali has no intention of launching IPO this year but may start planning
Entrepreneur and yoga guru Ramdev has announced that he has no plans for a Patanjali initial public offering this year but could take a decision on the matter by the end of the current 2022 financial year.
“We will soon take a call on Patanjali IPO,” Ramdev told ET Markets in an interview. “One has to wait a bit.”
There has been much anticipation for when Patanjali will launch its IPO given the size and diverse product range of the business which includes beauty products, foods, and clothing.
Ramdev and the business is also in the process of gearing up for the follow-on public offer for Ruchi Soya, which Patanjali acquired. The FPO is valued at Rs 4,300 ($646.3 million). Response from investors concerning the Ruchi Soya FPO has been robust, according to Ramdev.
Patanjali plans to transform Ruchi Soya from a commodity business into a fast moving consumer goods business.
“We are in a process of transforming the company, wherein its soul- its core commodity business- will account for 20% of the business and rest would be all FMCG,” said Ramdev. “That said, we would make sure the commodity business also grows in size, especially the edible oil business. We would want to be in palm oil plantation.”
Patanjali plans to make Ruchi Soya debt-free in two years. The business will also focus on online distribution, exports, and markets where is does not yet have high penetration ahead of its own IPO.
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