Baba Ramdev's Patanjali Ayurved which has ambitious plan to expand its footprints in the dairy and apparel is in talks with several investment banks to raise structured credit worth Rs 1,000 crore. Patanjali had recently announced the launch of its packaged drinking water 'Divya Jal' and there were reports of the homegrown business group making an entry in sectors like dairy and apparel.
According to a report in Livemint, one of the two investment banks is a Hyderabad-based boutique firm specializing in the consumer packaged goods segment, adding that the banks have been asked to approach both foreign and domestic funds.
"The discussions assume significance since this is for the first time since its founding in 2007 that Patanjali is exploring an equity-linked fund-raise option," the report quoted some insiders, as saying.
The investment banks have also been asked to explore possible investment structures that suit long-term capital needs of the group. Investment banks have approached several foreign and domestic structured credit funds with an initial proposal, it added.
The talks with banks to raise capital comes amid reports of Baba Ramdev's Patanjali Ayurved entering into various sectors. With growing demand of its products, Patanjali is also looking to open a new manufacturing facility in several states.