Edible oil company Ruchi Soya Industries Limited on Tuesday said that the name of the company has been changed to Patanjali Foods Limited with effect from June 24.
In 2019, Baba Ramdev-led Patanjali Ayurved acquired Ruchi Soya for Rs 4,350 crore through an insolvency process.
In a regulatory filing, Ruchi Soya stated that it has “received an e-mail from the Ministry of Corporate Affairs dated June 27, 2022, mentioning that the date of incorporation is to be changed to a new ‘name’ dated June 24, 2022.” ‘Certificate’ was issued by the Registrar of Companies, Maharashtra, Mumbai.
Accordingly, the name of the company has been changed from Ruchi Soya Industries Limited to Patanjali Foods Limited with effect from June 24, 2022.
Ruchi Soya is separately filing necessary documents with the stock exchanges regarding the name change.
Last month, Patanjali Ayurved Ltd sold its food retail business to group firm Ruchi Soya Industries Ltd for Rs 690 crore as part of its strategy to focus on non-food, traditional medicine and wellness business.
Ruchi Soya recently raised Rs 4,300 crore through its follow-on public offering (FPO).
The company’s net profit increased from Rs 680.77 crore a year ago to Rs 806.3 crore in 2021-22.
Total income increased to Rs 24,284.38 crore during the last financial year from Rs 16,382.97 crore in 2020-21.
Ruchi Soya sells its products under brands like Ruchi Gold, Mahakosh, Sunrich, Nutrella, Ruchi Star and Ruchi Sunlight.
It is also into oil palm plantations and the renewable wind power business.