About 16 years after it was founded, Baba Ramdev’s Patanjali Ayurveda has ventured into multiple segments from FMCG to apparel. Stock prices of Patanjali Foods have registered tremendous growth, skyrocketing from Rs21 to more than Rs1300 in the past five years. As a money making stock, it has delivered a 6250 per cent return for its investors.
With an eye on corporate expansion, founder Baba Ramdev is now set to announce IPOs for five group companies, in the next five years. The announcement will be made in a press conference on Friday September 16th according to a press release by the firm. So far Patanjali Food is the only group company whose shares are traded on the stock market. But it was originally listed as Ruchi Soya bought by Patanjali as part of a resolution process three years back, and hence the IPO wasn’t launched by Baba Ramdev.
More on the agenda
The announcement also mentioned exposing conspiracies and rumour mongering against Patanjali as an agenda of the press conference.
This comes at a time when Patanjali’s revenues have spiked to more than Rs 10,000 crore in FY22, compared to Rs 9,810 crore in FY21, but profits went down by Rs 5 crore. Following a Rs 690 crore deal with its parent firm Patanjali to acquire the food business, Ruchi Soya is also expecting its revenue to cross Rs 22,000 crore in the next five years
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