It would be a new milestone for both Ramdev and the company he built if Patanjali does end up accepting the offer since he known for his position against multinational corporations. Confirming reports that Patanjali was in talks with French luxury major LVMH, which is looking to invest in the firm, he said that as per Patanjali's policy, it will go with its own terms for such fund-raisings, which means there will be no sale of stake and funds will be raised at a lower rate of interest.
An Economic Times report on Thursday states that L Catterton private equity fund co-owned by LVMH is ready to invest $500 million, which is nearly half of its remaining Asia fund, in order to pick up a stake in what is now the most talked-about and the fastest growing FMCG company in the country.
ET quotes Ravi Thakran, managing partner of L Catterton Asia as saying that the fund would love to work with Patanjali if a feasible model could be worked out.
LMVH's offer comes after Patanjali Ayurveda signaled its willingness to raise funds from foreign sources to expand its business across India. Moreover, Patanjali will accept "any loan or borrowing in Indian Rupee only".
Patanjali's spokesperson SK Gupta Tijarawala wrote on Twitter, "Acharya Balkrishna has said that just as we use foreign technology for our development, we do not hesitate to use foreign funds for the benefit of our country, but we will take it on our own terms, will not give share/stake". Now, L Catterton wants to buy into some of the homegrown action and is ready to bet as much as half of it's Asia budget on Patanjali.
Patanjali is looking for Rs 5,000 crore loans to set up plants in Greater Noida, Assam, Telangana, Chhattisgarh, Andhra Pradesh, Nagpur, Haryana and Rajasthan.
The phenomenal growth of Patanjali has made its competitors revamp their ayurvedic products. Its chief marketing strategy has been to propagate the message that using foreign manufactured products is reminiscent of a "slave mentality". "We are giving back to the country whatever we are earning", Ramdev said in the interview.
The OnePlus 5T comes in a 6GB RAM +64GB ROM variant as well, though Lava Red can only be bough in 8GB RAM configuration. After weeks of requests from fans, OnePlus has finally launched the OnePlus 5T Lava Red edition in India.
No this doesn't look like Aronofsky's mother! but rather a look into what motherhood entails in the year 2018. The first half of the new trailer for the upcoming movie " Tully " features scenes familiar to any parent.
The company owns and operates USA theme parks, including the popular SeaWorld (R), Busch Gardens (R) and Sesame Place (R) brands. The stock of MGM Resorts International (NYSE:MGM) has "Overweight" rating given on Thursday, January 28 by JP Morgan.
Public Sector Pension Inv Board holds 0.73% of its portfolio in Microsoft Corporation (NASDAQ:MSFT) for 2.26M shares. The stock exchanged hands 41.28 Million shares versus average trading capacity of 18.28 Million shares.
Ledyard Financial Bank stated it has 0% in Micron Technology, Inc . "(MU)" was first published by BBNS and is owned by of BBNS. Micron and Intel said they expect no change in the cadence of their respective 3D NAND technology development of future nodes.
Losses from three USA hurricanes made 2017 the third-costliest year for insurers, according to insurance company Swiss Re . Total losses amounted to $306bn the agency said, over $90bn more than the previous record set in 2005.
Ivanka Trump , special adviser to the US President Donald Trump , was impressed by Oprah Winfrey's speech at the Golden Globes . They are literally dragging her by her cheap Ivanka Trump shoes and it's well deserved.
Manchester City boss Pep Guardiola has identified Shakhtar Donetsk midfielder Fred as Fernandinho's long-term successor. Midfielder "Shakhtar" is focused on the second half of the season, but waiting for a call from Guardiola.
On Tuesday, he posted a picture on Twitter of himself with a French bulldog, introducing his latest family member as "Gunner". To make the story more amusing and rub salt into Arsenal wounds it has been called Gunner.
Hogan Announces State Lawmaker Term Limit Bill
Fifty-nine percent of African-American voters approved of the job he is doing, while 31 percent disapproved. His approval rating among Republicans is 86 percent and 78 percent with independent voters.
UConn's Williams on Wooden Award Midseason Top 25
Wooden Award will be presented during the ESPN College Basketball Awards presented by Wendy's on Friday, April 6, 2018. But it's been more than a decade since a Blue Devils player won the John Wooden Award - the last one being J.J.
Short Interest in Wal-Mart Stores, Inc. (WMT) Drops By 14.8%
Ally Fincl has 0.22% invested in Wal-Mart Stores, Inc. (NYSE:BLK) for 484 shares. 1St Source Bancorp stated it has 15,601 shares. It increased, as 52 investors sold AAPL shares while 1034 reduced holdings. 54 funds opened positions while 136 raised stakes.
Doug Jones sworn in as Alabama's newest US Senator
Jones will represent one of the most conservative states and is stressing his desire to work with lawmakers from both parties. With Smith's induction, there are now a record 22 women serving in the Senate. "I don't think that's a partisan issue".
Chelsea vs. Leicester City
The Blues signed six players in the summer transfer window to improve their squad ahead of their return to the Champions League. The visitors will be without skipper Wes Morgan and Danny Simpson, with both defenders struggling with hamstring injuries.