Medilytix Bureau:

India’s largest manufacturer of edible oil, Ruchi Soya is ‘debt free’ after its follow-on public offering (FPO). A part of the proceeds arising from the FPO has been utilised to repay debt. With that, the Baba Ramdev-backed company has repaid ₹2,925 crore to a consortium of banks led by the government-owned State Bank of India (SBI).

Acharya Balkrishna, the co-founder of Patanjali Ayurved through his Twitter account mentioned that they have handed over ₹2,925 crore to SBI chairman Dinesh Kumar Khara and managing director Ashwini Bhatia for the loan, ahead of its time.

The loan was repaid to a consortium of banks led by SBI. Lenders like Punjab National Bank, Union Bank of India, Syndicate Bank, and Allahabad Bank are the other banks in the consortium.

Recently, Ruchi Soya raised ₹4,300 crore through FPO that was launched between March 24 to March 28 at a price band between ₹615 to ₹650 per share.

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