Patanjali Group expects turnover of Rs 1 lakh cr in next 5-7 yrs; to launch 4 IPOs

Baba Ramdev on Friday said the turnover of Patanjali Group is expected to jump 2.5 fold to Rs 1 lakh crore in the next 5-7 years and will also launch the initial public offerings of four group companies.

In a press conference, he also announced that the Patanjali Group will provide jobs to 5 lakh people in the coming years. “Patanjali Group current turnover is around Rs 40,000 crore. The Group turnover is expected to reach Rs 1 lakh crore in 5-7 years,” Ramdev told reporters here. He said the Patanjali Group firm, Patanjali Foods (erstwhile Ruchi Soya), is already listed on stock exchanges and its market capitalisation has touched around Rs 50,000 crore.

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“We will be launching Initial Public Offerings (IPOs) of four other group companies over the next five years,” Ramdev said. These four companies are Patanjali Ayurved, Patanjali Medicine, Patanjali Lifestyle and Patanjali Wellness. Patanjali Group had acquired Ruchi Soya for Rs 4,300 crore through insolvency proceedings. The Group launched the Follow-on Public Offering (FPO) of Ruchi Soya and renamed it as Patanjali Foods.

Ramdev asserted that the qualities of all products of Patanjali Group are good and said that efforts are being made by religious, political, medicine and MNC “mafias” to tarnish the image of its brand. ` Without naming any people and organisations, he said the Group has given legal notices to more than 100 people and also lodged FIRs.