Edible oil major Ruchi Soya on Friday said it has repaid Rs 2,925 crore loans to banks and has become a debt-free company. Baba Ramdev’s Patanjali Ayurved-led Ruchi Soya has recently raised Rs 4,300 crore through its follow-on public offer, and the part of the proceeds has been utilised to repay the debt.
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Acharya Balkrishna, MD of Patanjali Ayurved Ltd, tweeted that Ruchi Soya has become debt-free. In its draft red herring prospectus, the company had mentioned that it would repay loan of around Rs 1,950 crore to the lenders, a company spokesperson said.
आज रुचि सोया हुआ ऋण मुक्त!@TheOfficialSBI के Chairmanश्री दिनेश कुमार खारा व MD श्री अश्विनी भाटिया जी को हमने 29,25,00,00,000 रुपए (Two thousand nine hundred twenty five crore)का cheque handover किया,लिए गए ऋण का समय से पूर्व,विनम्रतापूर्वक भुगतान एक सन्यासी द्वारा ही संभव है! pic.twitter.com/Y1MzocaVKW— Acharya Balkrishna (@Ach_Balkrishna) April 8, 2022
However, the company has decided to repay the entire debt amount of Rs 2,925 crore to its lenders. The money was paid to a consortium of bank led by State Bank of India. The other banks in the consortium are Punjab National Bank, Union Bank of India, Syndicate Bank and Allahabad Bank. In 2019, Patanjali had acquired Ruchi Soya for Rs 4,350 crore through an insolvency process.
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