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Tag: Ruchi Soya

  • Ruchi Soya to merge with Patanjali Ayurved under the name ‘Patanjali Foods’

    Ruchi Soya to merge with Patanjali Ayurved under the name ‘Patanjali Foods’

    Mumbai: Baba Ramdev-led Ruchi Soya Industries on Monday stated it will evaluate the most efficient mode to merge Patanjali Ayurved Ltd’s food business with itself and further decided to change the name of the company to Patanjali Foods Ltd.

    Ruchi Soya recently raised Rs 4,300 crore through a follow-on public offer (FPO).

    In its regulatory filing, Ruchi Soya apprised that the board of directors, in the meeting held on Sunday, “gave in-principle approval to evaluate the best way to amalgamate the food business of Patanjali Ayurved Ltd. “

    The board authorised the officials of the company to negotiate, finalise and conclude the terms and conditions of the proposed deal.

    Last month, Baba Ramdev announced that in the upcoming months, Patanjali Ayurved will transfer all food business to Ruchi Soya. Patanjali Ayurved would operate in the non-food, traditional medicine, and wellness space.

    Patanjali Group acquired Ruchi Soya in 2019 for Rs 4,350 crore through insolvency proceedings.

  • Balkrishna resigns, Ram Bharat takes over Ruchi Soya’s managing director

    Balkrishna resigns, Ram Bharat takes over Ruchi Soya’s managing director

    KOLKATA: Patanjali Ayurveda owned Ruchi Soya Industries is restructuring its management currently. After appointing Sanjeev Asthana as its chief executive officer in July 2020, the company has appointed Ram Bharat as its managing director who also serves as whole-time director of the company. 

    Bharat will acquire the position of managing director from 19 August 2020, according to a regulatory filing. Acharya Balkrishna has resigned as managing director of the company with effect from 18 August 2020 due to his “pre-occupation”. He has been now designated as non-executive non-independent director. Asthana, the CEO of the company, has been appointed as the Key Managerial Personnel of the Company with effect from 19 August 2020.  

    Ram Bharat is the low-profile younger brother of Swami Ramdev who has been engaged with day-to-day operations of Patanjali Ayurveda for a long time. “ Ram Bharat, whole-time director of the Company has been designated as managing director of the Company with effect from 19 August 2020 till 17 December 2022, not liable to retire by rotation, other terms, and conditions remaining the same subject to the approval of members of the Company,” the company stated in the filing.

    Patanjali Ayurved acquired Rs 4,350 crore to take over debt-ridden Ruchi Soya through an insolvency process last year. The former won the bid after Adani Wilmar withdrew from the race citing significant delays in the resolution process.

  • Madison Media is Maxx Mobiles’ media AoR

    Madison Media is Maxx Mobiles’ media AoR

    MUMBAI: Maxx Mobiles has appointed Madison Media as its media agency on record (AoR).

    The account will be serviced out of Madison Media Sigma in Mumbai.

    Madison Media Sigma COO Vanita Keswani said, “We are delighted to add Maxx mobiles to our roster of clients and are looking forward to a long and mutually beneficial partnership”.

    Maxx Mobiles managing director Ajjay Agarawal added, “We were looking to partner India’s top agencies to help us in our mission to make Maxx Mobile one of the leading handset brands in the country. We found Madison, with rich expertise in Media, to be ideal choice and are sure they will add tremendous value in our efforts.”

    Madison Media has recently won a host of new businesses including McCain Foods, Ruchi Soya, Max India’s corporate account, Café Coffee Day, Radikal Rice and Crompton Greaves.

    For record, Maxx Mobile is a provider of mobile handsets and accessories in India, that made its entry in the year 2004.

  • Madison Media wins Magicbricks.com account

    MUMBAI: Madison Media has won the MagicBricks.com media account in a multi agency pitch.

    Madison Media‘s Delhi offices will handle the media planning and buying for MagicBricks.com.

    The brand is set to come up with a massive new campaign strategy shortly.

    Madison Media has been on an account winning spree, having recently won a host of new businesses including Ruchi Soya, Max India‘s corporate account, Café Coffee Day, Radikal Rice and Crompton Greaves.

    Platinum Media CEO Basabdutta Chowdhury said, “We are delighted with this new win and confident to take MagicBricks.com to great heights and are looking forward to a long and mutually beneficial partnership”.

    MagicBricks.com business head Sudhir Pai said, “We sought a partner who could match our speed and could scale operations with the agility that the internet space demand – a partner who shares our values and can understand our business and brands – providing turnkey differentiated media solutions. Madison was an obvious choice for the same.”

    MagicBricks.com provides a platform for property buyers and sellers to locate properties of interest and source information on the real estate space in a clear and transparent process. With in-depth analysis and revolutionary next-gen services customised specifically to address the needs of property seekers and the real estate industry, MagicBricks.com is the leader in online real estate in India.

    MagicBricks.com was launched by Times Business Solutions Limited, part of The Times of India Group in August 2006, and has grown to become India‘s largest property portal. With over 8,000,000 listings from across the country, MagicBricks is the biggest online property marketplace in the country.

    Madison Media Group is India‘s foremost media agency handling media planning and buying for blue chip clients including Airtel, Godrej, Cadbury/Kraft, ITC, General Motors, Marico, McDonald‘s TVS, Shriram Transport Finance, Levis, SpiceJet, Domino‘s, Bharti Axa, Max Life Insurance, Asian Paints, Pidilite, Tata Salt, Acer, Crompton Greaves, Dish TV, Times Television Network, Indian Oil, Dixcy Textiles, Enamor Lingerie, Gowardhan Dairy, Café Coffee Day and many others. The gross billing of Madison Media is about Rs 30 billion.