Patanjali Looks For Venture Fund
Besides FMCG (fast-moving consumer goods) segment, Patanjali is present in sectors such as education and healthcareJanuary 12, 2018 | comments ( 0 ) |
Baba Ramdev-led Patanjali Ayurved is in talks with several foreign venture funds for investment in its ongoing projects like food processing units and manufacturing units.
The Haridwar-based company has held several meetings with leading fund managers in Mumbai in last couple of months through financial services company UBS and IDFC.
Patanjali spokesperson S K Tijarawala said “We had meetings with the world's largest equity funds through the letter circulated by UBS and then it was facilitated by IDFC also. Through them, we met over a dozen venture capitalists in last couple of months. As per Patanjali's policy, it would go with its own terms for such fundings, which means no stake, no share and lower rate of interest. Our terms are very simple that we would not allot any share or stake of Patanjali to them. We want the money simply in the form of loan, which should have lower interest rate than that of bank. We would not dilute our icon and identity for which we are known, that is Swadeshi and India-made products.”
LVMH, which is in the process of investing around Rs 5,000 crore, is evaluating the offers.
Besides FMCG (fast-moving consumer goods) segment, Patanjali is present in sectors such as education and healthcare.
Recently, it had forayed into kids and adult diapers and affordable sanitary napkin segments. Last month, it also announced its foray into solar equipment manufacturing.
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