Ruchi Soya will be renamed Patanjali Foods Limited

F.M.C.G. company Ruchi Soya will be renamed to Patanjali Foods Limited. This decision is taken by the Board of directors of Ruchi Soya Industries Limited. In a regulatory filing on the Indian bourses, Ruchi Soya Industries Limited informed that the company's board of directors has "decided to change the name of the Company to Patanjali Foods Limited or any other name as may be made available by Registrar of Companies, Maharashtra, Mumbai subject to all other applicable approval."

The meeting of the company’s board was held on April 10. The company is a part of Patanjali Ayurveda. It was acquired by the Patanjali Ayurveda in the year 2019 for Rs 4,350 crore. Ruchi Soya Industries told that its Board Directors  accorded its "in-principle approval for evaluating the most efficient mode of enhancing synergies with Patanjali Ayurveda Limited food portfolio in any manner on an arm's length basis." Recently the company also launched its FPO as a part of its fundraising plans. The company's shares closed 5.20 lower at Rs 918.25 apiece.