“We will launch at least four IPOs for sure – Patanjali Ayurved, Patanjali Medicine, Patanjali Wellness and Patanjali Lifestyle – in the next five years,” Baba Ramdev announced at a press conference on Friday.
He also aims to take the group’s market cap from Rs 50,000 crore to Rs 5 lakh crore in five years.
Ramdev said the group’s current turnover is Rs 40,000 crore which will increase to Rs 1 lakh crore after five years.
Following the announcement, shares of Patanjali Foodswhich was earlier known as
and eventually re-branded following the acquisition by Baba Ramdev-led Patanjali Ayurved, were trading 0.6 per cent higher at Rs 1,351 at 1 pm. The stock has rallied nearly 60 per cent year-to-date.
The stock, which hardly has any analyst coverage, recently saw Antique Stock Broking initiating coverage with a target price of Rs 1,725.
Stating that Patanjali Foods is well on its way to being a diversified FMCG and FMHG-focused company with widely recognized brands (Ruchi, Nutrela, Patanjali) across the value chain, Ramdev said the company will outperform peers through portfolio diversification and benefit from PAL’s strong distribution network.
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