Stock Market Tips, Baba Ramdev’s Patanjali Ayurved hires investment banks to raise Rs1,000 crore

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Yoga guru Baba Ramdev’s Patanjali Ayurved has hired two investment banks to raise structured credit worth Rs1,000 crore, two people aware of the development said.

One of the two investment banks is a Hyderabad-based boutique firm specializing in the consumer packaged goods segment, the people mentioned above said on condition of anonymity, adding that the banks have been asked to approach both foreign and domestic funds.

In August, Patanjali had announced its intention to borrow Rs1,000 crore to finance its expansion plans.

“The discussions assume significance since this is for the first time since its founding in 2007 that Patanjali is exploring an equity-linked fund-raise option,” the first of the two persons cited above said.

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