HomeBRAND REVIEWRuchi Soya name officially changed to Patanjali Foods - read details

Ruchi Soya name officially changed to Patanjali Foods – read details

Baba Ramdev’s Ruchi Soya Industries said in an exchange filing on Tuesday it had received approval from the Registrar of Companies to change its name to Patanjali Foods with effect from June 24.

In a regulatory filing today, Patanjali Foods informed that “Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we may inform you that we have received an email dated June 27, 2022 from Ministry or Corporate Affairs mentioning that a fresh “Certificate of Incorporation pursuant to change of name” dated June 24, 2022 was issued by the Registrar of Companies, Maharashtra, Mumbai (copy enclosed). Kindly note that the name of the Company stands changed from “RUCHI SOYA INDUSTRIES LIMITED” to “PATANJALI FOODS LIMITED with effect from June 24, 2022. The Company is filing the required documents in respect of the change of name to Stock Exchanges separately.”

In 2019, Ruchi Soya was acquired by Baba Ramdev-led Patanjali Ayurved for ₹4,350 crore through an insolvency procedure. As part of its goal to concentrate on non-food, traditional medicine, and wellness business, Patanjali Ayurved Ltd divested its food retail business to group company Ruchi Soya Industries Ltd last month for ₹690 crore. Through its follow-on public offer (FPO), Ruchi Soya recently collected ₹4,300 crore, mostly to clear its liabilities. 

In March, Baba Ramdev announced that “in the next few months, Patanjali Ayurved will transfer all food business to Ruchi Soya and that Patanjali Ayurved would operate in non-food, traditional medicine and wellness space.”

In April, he company’s board of directors had approved the change in name. Ruchi Soya CEO Sanjeev Asthana had said the company’s board of directors had approved “enhancing synergies with Patanjali Foods”.

“All the decisions have been made with twin purposes. One, rationalize the product portfolio between effective companies for better clarity for all stakeholders, which means that entire foods’ portfolio will be with Ruchi Soya and non-foods part of the business shall remain with Patanjali,” he had said.

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