Baba Ramdev announces four new IPOs in five years
Patanjali Ayurveda was launched with a pitch for promoting India’s swadeshi products, and 15 years later the combined turnover of the group stands at Rs 40,000 crore. Following this, its founder Baba Ramdev has revealed his growth plans with plans to list four group companies for Indian shareholders in the next five years. During a press conference in Delhi, Ramdev announced upcoming IPOs for Patanjali Ayurved, Patanjali Medicine, Patanjali Wellness, and Patanjali Lifestyle, as firms scheduled.
Wellness may come first
The group which aims to raise its turnover to Rs 1 lakh crore in the next five years, hasn’t mentioned dates for the IPOs. But by announcing 1000 IPD and OPD centers, which will be increased to one lakh in a decade, Ramdev hinted that Patanjali Wellness may be the first to be listed. With the four IPOs and Patanjali Foods which is already listed, the group will have stocks of five companies on the bourses. Ramdev promised to announce plans for achieving a Rs 5 lakh crore market value with these firms soon.
Tryst with allopathy
Baba Ramdev also added that Patanjali seeks to replace allopathy with traditional Indian medicine and therapy, although his claims about Ayurveda and Coronil have landed him in controversy. The Indian Medical Association had also demanded action against the Yoga Guru turned entrepreneur, for referring to allopathy as a ‘stupid science.
Ramdev also expressed his ambition to make Patanjali a firm with India’s largest oil palm plantation, with an aim to generate annual returns of Rs 2000 crore for the next five to seven years. He claimed that once planted, oil palms will provide returns for up to 40 years. This is significant for India, which imports more than 50 percent of its edible oil and relies heavily on Indonesia and Malaysia for palm oil. Ramdev added that the plantations will save Rs 3 lakh crore for the country every year on edible oil imports.