Ruchi Soya Industries limited's board of directors gave approval to rechristen its name Patanjali Foods Ltd. The meeting was held on April 10, according to a BSE filing by Ruchi Soya Industries Limited.
"The Board of Directors have also 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," Ruchi Soya Industries said in a BSE filing.
Ruchi Soya Industries' board has also given approval for evaluating the most efficient mode of enhancing synergies with the Patanjali Ayurved Limited.
"We hereby wish to inform you that the Board of Directors of Ruchi Soya Industries Limited had at its meeting held on April 10, 2022, accorded its in-pricipal approval for evaluating the most efficient mode of enhancing synergies with the Patanjali Ayurved Limited food portfolio in any manner on arm's length basis (proposed transaction)," according to BSE filing by Ruchi Soya Industries Limited.
Apart from this, board also "authorized officials of the company to negotiate, finalise, execute and deliver the terms and conditions of the proposed transaction," as per Ruchi Soya Industries Limited's BSE filing.
Earlier on March 24, Ruchi Soya Industries' FPO was launched to raise Rs 4,300 crore.