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HomeBusinessCompletely Debt Free After Paying 2,925 Crore Loans: Ruchi Soya

Completely Debt Free After Paying 2,925 Crore Loans: Ruchi Soya

Ruchi Soya repays whole loans of Rs 2,925 crore

New Delhi:

Edible oil main Ruchi Soya on Friday stated it has repaid Rs 2,925 crore loans to banks and has grow to be a debt-free firm.

Baba Ramdev’s Patanjali Ayurved-led Ruchi Soya has just lately raised Rs 4,300 crore via its follow-on public supply, and a part of the proceeds has been utilised to repay the debt.

Acharya Balkrishna, MD of Patanjali Ayurved Ltd, tweeted that Ruchi Soya has grow to be debt-free.

In its draft crimson herring prospectus, the corporate had talked about that it could repay the mortgage of round Rs 1,950 crore to the lenders, an organization spokesperson stated.

However, the corporate has determined to repay your complete debt quantity of Rs 2,925 crore to its lenders.

The cash was paid to a consortium of banks led by the State Bank of India. The different banks within the consortium are Punjab National Bank, Union Bank of India, Syndicate Bank and Allahabad Bank.

In 2019, Patanjali acquired Ruchi Soya for Rs 4,350 crore via insolvency.

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