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|Yoga Guru Baba Ramdev's Patanjali may help out stressed infra companies: report|
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Monday, July 17, 2017 | 15:43 IST
Yoga Guru Baba Ramdev's Patanjali may help out stressed infra companies: report
Baba Ramdev's Patanjali Ayurved Ltd is looking to buyout debt-laden infrastructure companies weighed down by stressed assets.
Patanjali Ayurved, which has acquired significant market share in fast moving consumer goods sector, has been approached by some infrastructure firms for support that could be in the form of a buyout or a joint venture, Mint quoted a spokesperson for Ramdev as saying.
Some companies in the sectors where Baba Ramdev's Patanjali is already present have also expressed interest, the report said.
Patanjali, which has business interests in retail, education and healthcare had recently announced its entry in Rs 40,000 crore private security business.
"We are always ready to help companies, if needed, but it has to align with the swadeshi movement. We have been approached by a lot of such companies in different sectors. We'll only support the home-grown companies, especially those under stress, if it is needed and if we see we can make things better. That would strengthen our swadeshi movement," the report quoted Patanjali spokesperson..
According to an Assocham report, the Reserve Bank of India (RBI) is expected to push for resolution of bad loans worth around Rs 8 trillion by March 2019, a move that could bring down the non performing assets (NPAs) and improve the financial health of banks.
In May, Patanjali Ayurved, which has given a tough competition to FMCG firms, personal care companies had announced plans to enter the restaurant business dominated by McDonald's, Kentucky Fried Chicken and Subway in India.
While announcing Patanjali's Rs 10,561 crore turnover, Yoga guru Baba Ramdev had said Patanjali plans to double its turnover in the current financial year.
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