The Yoga Guru backed business, Ruchi Soya's planned foray into palm oil comes on the back of a 44.42 per cent increase in palm oil prices in the retail market in July compared to the year ago.
The aggressive growth plans include an exports boost, hiring celebrities to endorse the brand and transforming the commodity company into a fast-moving consumer goods company
Ruchi Soya eyes Rs 1,000 crore revenue from exports in 3 years; will rope in celebrities to deepen reach
Patanjali Ayurved Ltd, which owns 98.9% of Ruchi Soya, is in the process of selling Rs 4,300 cr worth of its stake through FPO to meet the minimum shareholding norms and pare its debt.
The group is soon going to bring FPO of Ruchi Soya and expecting to raise around Rs 4,300 crore.