Patanjali Ayurved Limited, which is owned by Baba Ramdev, is planning to sell its non-food business, which includes products like toothpaste, oil, soap, and shampoo.
The board also authorised officials to carry out due diligence, appoint professionals, negotiate the terms and conditions of the proposal, and report the findings to the Audit Committee and the board for further consideration. To strengthen its product portfolio, Patanjali Foods acquired the biscuits business of Patanjali Natural Biscuits Pvt Ltd for Rs 60.03 crore in May 2021.
Patanjali Foods receives proposal to acquire non-food business from Patanjali Ayurved webindia123.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from webindia123.com Daily Mail and Mail on Sunday newspapers.
In a regulatory filing, Patanjali Foods informed that its board has discussed the initial proposal received from Patanjali Ayurved Ltd for a sale of the latter's non-food business undertaking to the company.