In news that may take IPO market by storm, Baba Ramdev may have plans to list Patanjali Ayurveda. In a cryptic message, Yoga guru Baba Ramdev just gave a glimpse of his intention on listing his flagship FMCG brand Patanjali on stock exchanges.
In news that may take IPO market by storm, Baba Ramdev may have plans to list Patanjali Ayurveda. In a cryptic message, Yoga guru Baba Ramdev just gave a glimpse of his intention on listing his flagship FMCG brand Patanjali on stock exchanges. When asked about his plans on Patanjali Ayurved’s listing, Baba Ramdev said he he would be able to share some “good news” related to this in a month’s time, PTI reported yoga guru as saying at an event.
Speaking further, Ramdev said that the country could turn up into a manufacturing hub if necessary facilities were offered at affordable rates and a few areas are marked for manufacturing industries. Considering crisis faced by several industries, the banks should come out to help them, he further said.
Earlier in October this year, Ramdev has said that neither he wants to go for foreign equity nor stock exchange listing as Patanjali is a charitable firm, PTI had then reported.
“But the banks should, at the same time, be smart enough to identify and help only the genuine industries, not the Vijay Mallya types,” PTI reported citing Baba Ramdev who was referring to the fugitive liquor baron.
Patanjali Ayurved targets to topple Hindustan Unilever Limited (HUL) from the top spot, in terms of turnover, by FY20, and become world’s largest FMCG brand by 2025, Baba Ramdev also said at the India Economic Conclave 2018.
The homegrown FMCG major would acquire a few bankrupt firms, will grow its own business, work on its manufacturing and supply chain and also let good professionals join it, yoga guru explained how homegrown FMCG major plans to emerge as a leader in the country’s FMCG space.