Patanjali struggles to arrange Rs 4,000 crore loan for Ruchi Soya acquisition, says report
Updated : October 30, 2019 10:26 AM IST
Lenders are unwilling to provide the loan since a rating firm downgraded Patanjali’s debt earlier this month citing a lack of corporate guarantee offered by the parent firm for the loan.
Of the Rs 4,350 crore loan offer, the lenders will receive Rs 4,240 crore of their dues while the remaining Rs 110 crore will be invested in Ruchi Soya for expansion after the acquisition by Patanjali.
The development is a setback to the proposed Ruchi Soya acquisition that was given green signal the National National Company Law Tribunal (NCLT) in July.