NEW DELHI, Sept 16:
Patanjali Group’s turnover is expected to jump 2.5-fold to Rs 1 lakh crore in the next 5-7 years, Baba Ramdev on Friday said, and also announced plans to launch IPOs of four other group firms.
Outlining the vision of Patanjali Group, he said the company will provide direct employment opportunities to 5 lakh people in the next five years.
“Patanjali Group’s current turnover is around Rs 40,000 crore. The Group turnover is expected to reach Rs 1 lakh crore in 5-7 years,” he told reporters here.
He said the Patanjali Group firm, Patanjali Foods (erstwhile Ruchi Soya), is already listed on stock exchanges and its market capitalisation has touched around Rs 50,000 crore.
“We will be launching Initial Public Offerings (IPOs) of four other group companies over the next five years,” Ramdev said.
These four companies are Patanjali Ayurved, Patanjali Medicine, Patanjali Lifestyle and Patanjali Wellness, he said, adding that the IPO of Patanjali Ayurved could be the first IPO.
“Patanjali Ayurved is an established company and is ideal from the point of view of IPO… The product line, reach, customer base and profitability and future projection, make it most favourable,” he added.
The second would be Patanjali Medicine, which owns Divya Pharmacy, and then Patanjali Wellness which runs chains of OPD and hospitals in India. “We have plans to operate 25,000 beds under Patanjali Wellness. We have around 50 such centres and have plans to take (it to) 100, including IPD and OPD, and gradually expand on a franchise model,” he added.
Patanjali Lifestyle consists of apparel, transport, cattle feed and some other emerging businesses.
Patanjali Group had acquired Ruchi Soya for Rs 4,300 crore through insolvency proceedings. The Group launched the Follow-on Public Offering (FPO) of Ruchi Soya and renamed it as Patanjali Foods. (PTI)
Follow our WhatsApp channel
