Ruchi Soya achieves debt-free status.
Ruchi Soya, India’s largest producer of edible oil, said on Friday that it has paid the load of Rs. 2,925 crores.
It paid off the amount and was no longer in debt.
Baba Ramdev’s firm is an Ayurvedic company that recently obtained $4,300 crore through a public offering and used the proceeds to pay off debt.
Ruchi Soya is debt-free, according to Acharya Balkrishna.
Ruchi Soya was declared insolvent in 2019 due to a debt of Rs 4,350 crores.
The business had stated in its draught prospectus that it would return the lenders a loan of roughly 1,950 crore, but it has now chosen to pay the whole debt to Indian banks, including Allahabad Bank, Punjab National Bank, and Union Bank of India.
