Categories: Business

patanjali ayurved Rs 250 cr NCD issue fully subscribed within 3 minute

Photo: patanjali ayurved

Patanjali NCD

new Delhi. The Rs 250-crore debenture of Baba Ramdev-led Patanjali Ayurved got a full subscription in just three minutes of its arrival on the market on Thursday. Managing Director of Patanjali Ayurved Acharya Balakrishna said that it is historic. NCDs (non-convertible debentures) worth a total of Rs 250 crore subscribed within three minutes of opening. This reflects the enthusiasm and trust of the investors.

The Haridwar-based company will use this money to meet the needs of working capital 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.

In December last month, Patanjali completed the process of buying the declared Ruchi Soya for bankruptcy, Ruchi Soya was bought by the company for Rs 4350 crore.

This post was published on May 28, 2020 5:43 pm

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