Ruchi Soya is going to make Baba Ramdev very rich

Its acquisition of Patanjali Ayurved’s lucrative food business on a slump sale basis is expected to immediately bump up its profits and valuation. That can only mean good tidings for the yoga guru.

In 2019, Baba Ramdev pulled off a coup. He convinced public sector banks to lend him over Rs 3,000 crore to buy a bankrupt Ruchi Soya for Rs 4,350 crore. In March this year, he launched a follow-on public offer of the company’s shares to raise Rs 4,300 crore to help pay off its debt. Ruchi Soya is now valued at Rs 37,500 crore and the yoga guru, who owns an 81% stake in the company with others, is a billionaire many times over. All with little skin in the game.

Last week, Ramdev struck again. This time, he inked …


T Surendar

Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.

Executive Editor