Baba Ramdev's Patanjali raises bid value to Rs 4,350 crore to take over Ruchi Soya
Updated : March 15, 2019 08:18 AM IST
Adani Wilmar, which emerged as the highest bidder in August last year after a long drawn battle with Patanjali, has withdrawn from the race citing delay in completion of the insolvency process.
The Committee of Creditors (CoC) could meet next week to consider the revised offer of Patanjali, sources said.
Ruchi Soya has a total debt of about Rs 12,000 crore. The debt-ridden firm has many manufacturing plants and its leading brands include Nutrela, Mahakosh, Sunrich, Ruchi Star and Ruchi Gold.