Patanjali all set to announce IPO, hints Baba Ramdev
ETMarkets.com|
Updated: Dec 13, 2018, 03.21 PM IST
Baba Ramdev on Wednesday hinted that Patanjali Ayurved may shortly announce plans to go public.
Asked whether the group has plans to get listed in the stock market, Ramdev said he would be able to share some "good news" related to this in a month's time.
Patanjali Ayurved, which started out as a small pharmacy, quickly grew to challenge multinational FMCG giants as it expanded into diverse segments. The company aims to achieve Rs 20,000 crore in annual revenues in three to to five years. Patanjali reached Rs 10,000 crore in revenues FY16 from less than Rs 500 crore in FY12.
Patanjali’s breakneck growth has, however, hit a roadblock in recent months. Sales fell for the first time in five years due to disruption by goods and services tax and a weak distribution network.
The company’s standalone consumer goods revenue declined more than 10 per cent to Rs 8,148 crore in the year ended March 2018, the first time since 2013.
“The decline was primarily because of its inability to adapt in time to the goods and services tax regime and develop infrastructure and supply chain, Ratings said in a report. Speaking about the growth rate of Patanjali products at the India Economic Conclave 2018, Ramdev said he is optimistic of Patanjali beating Hindustan Unilever by 2020 and becoming the world's largest FMCG by 2025.
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