The press conference of Baba Ramdev’s company Patanjali Group of Companies was held in New Delhi today. During this, Baba Ramdev announced the Initial Public Offer (IPO) of 4 companies of Patanjali Group. Baba also talked about taking the turnover of the company to one lakh crore rupees in the next 5 years.
₹1 lakh crore turnover target
The company will also contribute significantly in meeting the target of ‘Swadeshi Bharat’. Baba Ramdev claimed that the turnover of Patanjali Group of Companies will reach one lakh crore rupees in the coming 5 years. At present the turnover of the company is 40 thousand crores.
Will invest ₹ 1000 crore in Uttarakhand
For the purpose of improving public health in Uttarakhand, Patanjali Yogpeeth will invest one thousand crore rupees there. The culture of the state will also be promoted with this investment. Along with the Nehru Institute of Mountaineering, Patanjali will do new experiments by discovering the herbal medicine of the state.
IPO of these 4 companies will come
In the press conference, Baba told about the 5 major priorities of Patanjali Group of Companies under ‘Vision and Mission 2027’. In these 5 years, the IPO of 4 companies of the group – Patanjali Ayurved, Patanjali Medicine, Patanjali Wellness and Patanjali Lifestyle will come. Baba Ramdev-led Patanjali Foods is currently the only stock exchange listed company.
However, the IPO of this company did not come under the leadership of Ramdev. Till a few months back, this company, listed as Ruchi Soya, was bought by Patanjali Ayurved in 2019 for Rs 4,350 crore. This company was already listed on the stock exchange.
Ruchi Soya to Patanjali Foods
After buying Ruchi Soya in 2019, Baba Ramdev changed the company’s name from Ruchi Soya to Patanjali Foods in the same year 2022. Ruchi Soya’s fortunes have changed since Patanjali bought the company. The company was delisted from the stock market due to bankruptcy. Again re-listed on 27 January. Presently the company’s market cap has crossed Rs 49.20 lakh crore in BSE.
Ramdev’s revenue increased rapidly in Modi government
After becoming the Prime Minister, in February 2015, Modi excluded the income of charitable trusts associated with yoga from the purview of service tax. The credit for this was given to Ramdev. According to a 2017 Reuters report, Patanjali has been given a concession of Rs 336 crore in land deals with state governments after Modi came to power. Patanjali acquired about 2 thousand acres of land. This led to a rapid increase in the revenue of the company. The company’s profit was 1,184 crores in 2013-14, which increased to 26 thousand 400 crores in 2020-21.
Credit: www.bhaskar.com /