Patanjali Ayurved has announced its acquisition of Ruchi Soya. It has completed the transfer of the equity and debt portion for its acquisition through proceedings under insolvency and bankruptcy resolution. 75% of the deal is being financed by bank. Patanjali has infused Rs. 1,150 crore as equity and the remaining Rs. 3,200 crore has been raised through bank debt.
Patanjali Ayurved has raised a loan from a consortium of lenders led by State Bank of India. Patanjali has taken loan of Rs. 1,200 crore from SBI, Rs. 700 crore from Punjab National Bank, Rs. 600 crore from Union Bank of India, Rs. 400 crore from Syndicate Bank and Rs. 300 crore from Allahabad Bank.
A committee of creditors approved Patanjali group’s Rs. 4,350 crore resolution plan to take over Ruchi Soya, on April 30,2019. Later in September this year, Patanjali Ayurved had received approval of the National Company Law Tribunal (NCLT) to acquire the company. Ruchi Soya went into insolvency in December 2017.
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