Indian yoga guru eyes stock market debut of 4 group firms

Procter & Gamble Hygiene and Health Care

16/09/2022 08:04

NEW DELHI, Sept 16 (Reuters) - Indian consumer group
Patanjali, co-founded by a well-known yoga guru, said on Friday
it plans to list four group companies as part of its vision for
2027, as the producer of affordable, local-made goods takes on
bigger rivals like Unilever and P&G.
    Baba Ramdev, a household name whose TV yoga shows are
watched by millions, has been the public face of Patanjali since
it was set up in 2006 and remains its brand ambassador - his
bearded face smiles down from ubiquitous billboards and
hoardings in Indian villages.
    Patanjali said it would list its main consumer goods
company, Patanjali Ayurved, the bulk of which is owned by
Ramdev's business partner Acharya Balkrishna, who has a net
worth of $2.1 billion according to Forbes. 
    Patanjali Ayurved's Indian-made products, such as pills to
boost immunity, cooking ingredients and personal care items,
ride big on Prime Minister Narendra Modi's push for local-made
goods in the country. 
    The company has tried to take market share in the natural
segment from consumer giants Hindustan Unilever  HLL.NS ,
Colgate Palmolive (India)  COLG.NS  and Procter & Gamble Hygiene
and Health Care  PROC.NS . 
    Currently, only one of the group companies, Patanjali Foods
Ltd  PAFO.NS , is listed on the stock market. The group acquired
edible oil company Ruchi Soya Industries in 2019 and renamed it
Patanjali Foods this year. 
    Patanjali said it will also list its medicine, wellness and
lifestyle units. 

 (Reporting by Tanvi Mehta; Editing by Raju Gopalakrishnan)
 ((tanvi.mehta@thomsonreuters.com; https://twitter.com/TanviMehta710;))