Baba Ramdev-led Patanjali Ayurved has reportedly joined the race for debt-crippled Ruchi Soya.
According to the Hindu BusinessLine report, the multi-discipline conglomerate has put in Rs 9,000 crore bid to acquire the edible oil manufacturer, which has been facing insolvency proceedings at the National Company Law Tribunal (NCLT) since December 2017.
Ruchi Soya has a partnership with Patanjali for refining and packaging edible oil.
Ruchi Soya is Indias largest edible oilseed extraction and refining company and owns popular brands like Nutella, Mahakosh, Sunrich, Ruchi Gold and Ruchi Star.
The company had a debt load of some Rs 12,000 crore as of December 31, 2017.
Among others, ITC, Emami, Godrej Agrovet, Sakuma Exports, Phoenix ARC, AION Capital Partners, 3F Oil Palm Agrotech, Indian subsidiary of Cargill Corp, Singapore-based palm oil companies Musim Mas and Golden-Agri Resources, global investment firm Kohlberg Kravis Roberts and Malaysias Sime Darby Bhd are vying for the company.
Ruchi Soya shares ended at Rs 16.50, up 3.45 per cent, in Mumbai trading on Monday.
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