At the heart of the bidding war is the firm's edible oil refining capacity
Patanjali group has sought information about the parameters adopted by the RP to declare Adani Wilmar as the highest bidder (H1) for Ruchi Soya
Patanjali writes to CoC expressing concern over conflict of interest
The CoC of Ruchi Soya, in its meeting held today, opened the bids submitted by the two contenders -- Patanjali group and Adani Wilmar, which sells cooking oil under the Fortune brand
Ruchi Soya was admitted for the corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code (IBC) on December 2, 2017
The first round of bidding revealed that Patanjali had made an offer to acquire Ruchi Soya for Rs 43 billion
Patanjali had initially made a bid of Rs 40 billion to emerge as the front-runner for acquiring Ruchi Soya.
It has diverse business interests in segments such as production and distribution of edible oil, specialty fats and bio-diesel
Ruchi Soya fails to get NOC from lenders; firm now eyes Patanjali-like deals to use idle capacity
The shares of the company were trading at Rs 28.80 on BSE, up 0.17 per cent from its previous close
Ruchi Soya Industries would process the crude oil provided by Patanjali Ayurved
The stock opened at Rs 26.30 and has touched a high and low of Rs 28.10 and Rs 26.30 respectively.
The company incurred a net loss of Rs 879 cr for the financial year 2015-16 as against Rs 61-cr net profit earned in the previous fiscal
The resignation assumes significance from the point of view that Sebi banned Ruchi Soya in May from accessing securities market