NEW DELHI: Shares of Ruchi Soya climbed over 5 per cent in Tuesday's trade amid reports that Baba Ramdev-led Patanjali Ayurved has joined the race to acquire the debt-ridden company.
Ruchi Soya has a partnership with Patanjali for refining and packaging of edible oils.
Following the report, the stock rose 5.15 per cent to hit a high of Rs 17.35 on BSE.Ruchi Soya is Indias largest edible oilseed extraction and refining company and owns popular brands like Nutrela, Mahakosh, Sunrich, Ruchi Gold and Ruchi Star.According to the Hindu BusinessLine report, the multi-discipline conglomerate has put in Rs 9,000-crore bid to acquire the edible oil manufacturer, which has been facing insolvency proceedings at the National Company Law Tribunal (NCLT) since December 2017.
The stock exchanges have sought clarification from the company regarding the same.