"We are going to come with the FPO next year in which we would dilute our shareholding, Ramdev told PTI.
A company official said promoters haveto dilute 10 per cent shareholding by June 2021 and 25 per cent in 36 months as per the Sebi regulations.
A board resolution has already been passed in this regard.
Ramdev did not share the size of the proposed FPO.
Talking about Ruchi Soya that markets its products under different brands including Nutrela, he said the company would continue to grow.
As per the resolution plan approved by the National Company Law Tribunal (NCLT), the promoters and the promoter group presently hold 98.90 per cent stake in Ruchi Soya and the balance 1.10 per cent is the public shareholding.
As per Sebi listing rules, the company has to increase its public shareholding so that it can achieve the minimum public shareholding norm in compliance with the listing requirement under the Securities Contract (Regulation) Rules, 1957.
Last week, Ruchi Soya reported an increase of 28.09 per cent in revenue for July-September at Rs 3,990.72 crore. Its net profit was up 54.88 per cent to Rs 126.73 crore.
For 2019-20, Ruchi Soya had reported a revenue of Rs 13,117.79 crore.
We have operated Ruchi Soya well. People were raising doubts on us saying that we have experience only in running FMCG business and not a commodity business, Ramdev added.
Ruchi Soya primarily operates in the business of processing of oilseeds, refining of crude edible oil for use as cooking oil, manufacturing of soya products and value-added products.
The company has an integrated value chain in palm and soya segments having a farm to fork business model. It has brands such as Mahakosh, Sunrich, Ruchi Gold and Nutrela.
Ruchi Soya is also continuing its premiumisation drive through brand Nutrela into segments such as high protein atta, honey and premium blended oils.
We will have a higher growth and turnover this fiscal, Ramdev said.
In December last year, the Haridwar-based group completed the acquisition of bankrupt Ruchi Soya for Rs 4,350 crore through an insolvency process.
A consortium of Patanjali Ayurved, Divya Yog Mandir Trust (through its business undertaking Divya Pharmacy), Patanjali Privahan and Patanjali Gramudhyog Nyas won the bid to acquire Ruchi Soya.
Ramdev said the acquisition was a challenging job for Patanjali Group but it succeeded despite financial constraints.
Even after acquiring Ruchi Soya, Patanjali is continuing its mustard oil business and both are competing in the market.
Patanjali has emerged as the biggest symbol of self-reliant India (Aatmanirbhar Bharat)," he said.
Patanjali Ayurved has reported an increase of 21.56 per cent in standalone net profit to Rs 424.72 crore for 2019-20, according to data provided by business intelligence platform Tofler.
Revenue from operation was at Rs 9,022.71 crore, up 5.86 per cent. It was Rs 8,522.68 crore in 2018-19.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.