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4,000-cr loan to Patanjali is making Banks worried: report

Oct 30, 2019 14:41 IST

Bankers are reportedly worried about Patanjali Ayurved’s repayment and funding capacity after it sought a fresh Rs 4,000-crore loan. The loan is in order to pay for the Ruchi Soya acquisition.

Earlier, a rating firm downgraded Patanjali’s debt, raising serious questions about the viability of repayment of the loan.  

Within days of the downgrade however, Care, the rating firm, withdrew the ratings after a request by the company and a no-objection certificate was issued by the banks.