Baba Ramdev Announces Four Patanjali Company IPOs
He also spoke about how the firm had already started working towards listing these four group companies. Ramdev also vowed to unveil Patanjali’s action plan to achieve Rs. 5 lakh crores market value for these 5 companies, soon
Today, Baba Ramdev made the announcement of listing four new Patanjali companies on the Indian stock market within the next five years. Speaking in New Delhi, the patron of Patanjali made the announcement of the firm’s plans for the four new IPOs (initial public offerings) of Patanjali Ayurved, Patanjali Medicine, Patanjali Wellness, and Patanjali Lifestyle. He also mentioned the firm’s current turnover of Rs. 40,000 crores and that it was aiming to raise it to Rs. 1 lakh crore in the next 5 years.
Ramdev said, “We are preparing to get five listed Patanjali group companies by floating four new IPOs in the next five years. After Patanjali Foods Limited, we are aiming to bring IPOs of our four other companies — Patanjali Ayurved, Patanjali Medicine, Patanjali Wellness, and Patanjali Lifestyle.” He also spoke about how the firm had already started working towards listing these four group companies. Ramdev also vowed to unveil Patanjali’s action plan to achieve Rs. 5 lakh crores market value for these 5 companies, soon.
Ramdev added, “Patanjali Foods will be India’s largest company in oil palm plantation. Once planted, the oil palm tree gives return for the next forty years. So, the target is to earn annual returns of around Rs. 2,000 crores within the next five to seven years. It would enable India to save about Rs. 3 lakh crore which it pays for edible oil imports annually. Ramdev also mentioned that Patanjali group currently is the provider of five lakh direct and indirect jobs. He stated that the firm aimed for five lakh direct job generation within the next five years.
