Afternoon D & C Dedicated To Mumbai
Home > Business > Patanjali looking for venture funds

Patanjali looking for venture funds

Friday, January 12, 2018

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, said a company official.

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 Managing Director Acharya Balkrishna also participated in the meetings, he added. "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," Patanjali spokesperson S K Tijarawala told PTI.

Confirming reports that Patanjali was in talks with French luxury group LVMH, he said 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," he added.

Moreover, Patanjali would accept "any loan or borrowing in Indian Rupee only", as per its conditions. LVMH, which is in the process of investing around Rs 5,000 crore, is evaluating the offers.

COMMENTS
No Comments Posted
POST YOUR COMMENTS
Name:  
 
Email:    
Comments:
 
 
City news
Inmates to meet relatives in all-new ‘Transparent
Mumbai University strive to wrap up semester V ...
In a bid to facilitate investments into the ...
We hear words such as ‘Adolescence’ and ‘Puberty’
Dr. Rajan B. Bhonsle, M.D. (Bom)
Consulting Sex Therapist & Counsellor
Dr. (Mrs.) Minnu R. Bhonsle, Ph.D.
Consulting Psychotherapist & Counsellor
Astrology
Select Sun sign:
 
Aries (Mar 21 - Apr 20)
Aries (Mar 21 - Apr 20)You could be under heavy pressure at work. Refuse fresh offers until pending matters are successfully and quickly concluded in your favor. You will soon receive substantial profit for your efforts. Your accomplishments will be greatly lauded. Your priorities could be about work but your mate or beloved may not agree. Either find the time or face an irate mate.
- Advertising -
The government is likely to tweak income tax slab
Kenya is eyeing 12-15% growth in tourist arrivals
Galaxy Surfactants has fixed the price band betwe
Read More