On Friday, Yoga Guru Baba Ramdev announced plans for an initial public offering (IPO) of four Patanjali group companies over the next five years.

“Following Patanjali Foods, we are targeting IPOs for four other companies – Patanjali Ayurved, Patanjali Wellness, Patanjali Medicine and Patanjali Lifestyle,” Ramdev told a press conference in Delhi.

He also said the “action plan” aims to “realise a market value of Rs 5 lakh crore in the next few years”. Currently, the group turnover is around Rs 40,000 crore.

Currently, only Patanjali Foods is listed on the stock exchange regarding brands. In 2019, Patanjali Ayurved acquired Ruchi Soya for Rs 4,350 crore through bankruptcy proceedings.

In June 2022, Ruchi Soya Industries changed its name to Patanjali Foods after acquiring the food business of parent company Patanjali Ayurved for Rs 690 crore.

He also announced the brand’s five-year plan, focusing on planning large-scale edible oil plantations to provide employment opportunities for people, building 1 lakh schools under Patanjali Vishwavidhalaya under the education boards, and striving to build Patanjali Foods into a fast-moving consumer goods company.

Meanwhile, brokerage firm HDFC Securities has initiated a “buy” rating on Patanjali Foods Limited (formerly known as Ruchi Soya) with a target price of Rs 1,602. The brokerage firm advises investors to consider buying stocks with a time horizon of two to three quarters.