Ramdev's Patanjali Ayurved ups offer for bankrupt Ruchi Soya to Rs 4,350 cr

The revised offer will mean the lenders will have to write off 60% of their dues

Baba Ramdev's Patanjali Ayurved has sweetened its offer for bankrupt Ruchi Soya to Rs 4,350 crore as upfront cash to banks. As earlier offered, it will also infuse Rs 1,700 crore into the company.

The revised offer will mean the lenders will have to write off 60 per cent of their dues. Adani Wilmar had reportedly offered Rs 4,300 crore in August last year, but withdrew this January, citing delay in the resolution process. Patanjali's earlier offer was for Rs 4,100 crore. Adani had proposed an additional Rs 1,700 crore, as Patanjali did, for fund infusion. 

Adani was declared the highest bidder