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Wednesday, February 28, 2024

Patanjali Group eyes 4 IPOs in 5 years


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New Delhi: Patanjali Group on Friday announced it will get listed five group companies by floating four IPOs in the next five years.

‘After Patanjali Food Ltd, we aim to bring four IPOs of other companies — Patanjali Ayurved, Patanjali Wellness, Patanjali Medicine and Patanjali Lifestyle. We have already started on an action plan to achieve the target of Rs 5 lakh crore market value of these live-to-be listed companies,’ a statement from Patanjali said.

The company said Patanjali Foods will be the country’s largest company in oil plantations and once planted the oil palms will give returns for the next 40 years.

‘With this, the target is to earn annual returns of about Rs 2,000 crore in the next five years,’ the statement said.

The company said that it has set a target of increasing its turnover from present Rs 40,000 crore to Rs 1 lakh crore in the next 6-7 years.

‘Our company will play a big role in making India a global economic superpower by becoming the largest FMCG company in the country. We are working on an action plan to reach the level of Rs 5,000 crore EBITA of Patanjali Foods,’ the statement said.

The company also announced its plans to come up with a new indigenous avatar of multi-level marketing at the national level for natural nutraceuticals.

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