Patanjali Ayurved 's completely subscribed Rs 250 crore debenture in the third minute

Patanjali Ayurved ‘s completely subscribed Rs 250 crore debenture in the third minute

Business

Baba Ramdev-led Patanjali Ayurved’s Rs 250 crore debenture was fully subscribed on Thursday in just three minutes of its arrival in the market. Acharya Balakrishna, managing director of Patanjali Ayurved said, “It is historical. A total of Rs 250 crore worth of NCDs (non-convertible debentures) became fully subscribed within the third minute of opening. This reflects the enthusiasm and trust of investors.

The Haridwar company will use this amount to meet working capital requirements and strengthen the supply system network. Balakrishna said, “It shows people’s trust. This belief has made Patanjali the most trusted brand in the country and has given impetus to the Swadeshi movement led by Swami Ramdev which is necessary for a strong and self-reliant India. This is the first bond issue of Pantjali Ayurveda, which has become a major player in the manufacture of daily use goods in recent years. The coupon rate (interest rate) on Patanjali’s NCD is 10.10 percent while its maturity period is three years. Its maturity date is 28 May 2023. Debenture is rated AA by Brickwork.

Patanjali Ayurved spokesperson S.K. Tijarawala told PTI-language, “In this era of Kovid-19 epidemic, demand for Ayurveda products has been increasing rapidly to help increase physical preventive capacity. This has increased the pressure on our supply chain. There is increased pressure on the entire supply chain from manufacturing to distribution. He said, “We are raising this amount only to strengthen this supply chain, so that we can simplify and improve the entire chain from manufacturing to distribution.” In December last year, Patanjali Ayurved completed the acquisition of the bankrupt Ruchi Soya for Rs 4,350 crore. In the insolvency process, Patanjali acquired the company that created the soy food brand Nutrella.

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