Rajkot updates. News: Ruchi Soya to be Renamed Patanjali Foods Company Board Approves Stock Surges

Rajkot updates. News: Ruchi Soya to be Renamed Patanjali Foods Company Board Approves Stock Surges

Rajkot updates. News: Ruchi Soya to be Renamed Patanjali Foods Company Board Approves Stock Surges: Edible oil major Ruchi Soya said that its board has decided to change the Company’s tag to Patanjali Foods Ltd. Ruchi Soya Industries, in a board meeting held on Wednesday, May 18, has announced to change the name of the Company.

As per the board, Ruchi Soya Industries Limited will be renamed Patanjali Foods. The Company will also be looking at the evaluation of the most efficient mode of enhancing synergies with Patanjali Ayurveda’s food portfolio. This has led to gossip that Patanjali’s food business might get merged with that of Ruchi Soya.

As the Company is watching to rename and rebrand itself. Given the latest monitoring particle, the company board has approved changing the company name to Patanjali Foods Limited or any other name as may be made available by the Administrator of the Companies. The Company is filing the required documents in respect of the change of name to Stock Exchanges separately.”

Why did Ruchi Soya Change their Name?

As part of its goal to concentrate on non-food, traditional medicine, and wellness business, Patanjali Ayurved Ltd divested its retail food business to group company Ruchi Soya Industries Ltd last month for ₹690 crores. Through its follow-on public offer (FPO), Ruchi Soya recently collected ₹4,300 crore, mainly to clear its liabilities.

The board approved authorizing the company officials to negotiate, finalize, execute, and deliver the terms and conditions of the proposed transaction.

Rajkot updates. News: Ruchi Soya to be Renamed Patanjali Foods Company Board Approves Stock Surges

Further, the board also decided to change the Company’s name to Patanjali Foods or any other name as may be made available by the Registrar of Companies, Maharashtra, Mumbai, subject to all additional applicable approval.

Ruchi Soya recently raised Rs 4,300 crore through a follow-on public offer (FPO) of equity shares. The FPO opened for public participation on March 24, 2022, and closed on March 28, 2022. It comprised a fresh issue of equity shares for an amount aggregating to Rs 4,300 crore. The price band for the offer fix at Rs 615-650 per share.

The issue concluded successfully, and the Company allotted the shares at Rs 650 each. Post FPO, Baba Ramdev’s Patanjali Ayurved’s shareholding in the edible oil manufacturer reduced to 81% while public shareholding rose to 19%.

What is the Full form of Patanjali?

Patanjali Ayurved is an Indian multinational Company holding company based in Haridwar, India. It was founded by Ramdev and Balkrishna in 2006. Its office is in Delhi, with manufacturing units and headquarters in the industrial area of Haridwar.

Who Rename Patanjali Foods Company Board Approves Stock Surges?

Patanjali was a wise in India who thinks to be the author of several Sanskrit works, the most prominent of which is the Yoga Sutras. A traditional yoga text dating to 200 BCE – 200 CE.

Though positions to yoga within Hindu scripture had already long existed. I believe they were too varied and complex for the general public. So Patanjali created the Yoga Sutras to compile already existing teachings into a format more accessible to follow and understand.

Today, the Yoga Sutras are the most common reference text on yoga. Making Patanjali “the father of yoga” in the eyes of many. The Vishnudharmottara Purana, a supplement to the Vishnu Purana, says the “image of Patanjali’s Yoga teaching should have the form of Ananta.” Ananta describe in Hindu legend as the divine Lord of Cheats who says to hold all of the planets of the world on his 1,000 cobra covers.

As you can understand, the Vishnudharmottara Purana, which days to the sixth century, types a joining among the “yoga’ Patanjali and the “Ananta” Patanjali, as if they are similar. Attractive note of this, King Bhoja — an 11th-century fan of arts, works, and science — carved in the introduction of his “Royal Sun” comment on Patanjali’s Yoga Sutras.

The man who keeps 94% of Patanjali Ayurved Foods Company Board Approves Stock Surges?

Intending to establish Ayurveda on a scientific basis. Yogrishi Swami Ramdev ji Maharaj & Acharya Balkrishna ji Maharaj founded Patanjali Ayurved Ltd. in the year 2006.

The concept of forming this Company was to link the rising destiny of millions of rural masses on the one hand and many more suffering and leading unhealthy urban lifestyles on the other. The main aim was to give maximum benefit to the farmers of the country. And to provide Swadeshi products in every corner of the country.

With this aim, industrial units equipped with ultra-modern machinery work towards making the ancient. Traditional and classical knowledge of Ayurveda reaches the commoner in its purest form. The manufacturing units follow the latest standards of quality like GMP, GLP, GPP, ISO, and OHSAS. Here, new research merges with old traditions. The discoveries made by the ancient sages uses to produce modern products with further research. Keeping the natural taste intact and also providing maximum benefits.

Patanjali’s Acharya Balkrishna among Forbes’ billionaire

It does not happen every day that you see a billionaire monk. While India is a land of curious happenings and with babas historically known for conducting miracles. Patanjali’s Acharya Balkrishna has managed to pull another marvel by featuring in Forbes’ billionaires’ list. Ranking 365 on the list, he shares the feat with none other than Mukesh Ambani. Who leaped six spots to become Earth’s 13th wealthiest man.

Acharya Balakrishna also became India’s 15th richest man in 2018. Outranking Bajaj fame Rahul Bajaj, DLF group’s Kushal Pal Singh, and Nirma’s Karsanbhai Patel. With a real-time worth of $4.8 billion and also a net worth of around $5 billion. Acharya Balkrishna manages the operations of Patanjali Ayurveda. He also owns 98.6% of Patanjali Ayurved, which he had founded with Baba Ramdev.

Conclusion

Most businesses start small, and when they do, a spreadsheet is their first choice for managing their payroll operations. It’s inexpensive, does basic math, and also is comfortable to use.

Ayurved Limited became well-known in 2006 with a thought of rural and also urban growth. The Company is not merely an organization but a thought of creating a healthy society through Yog and Ayurved. We value our consumers, and we believe that quality products and also quality life for them make.

When the business grows, the employee base grows, and so does the payroll data. Suddenly, maintaining statutory compliance is a challenge, accuracy becomes complex and large data sets only make things even more difficult.