Read more Patanjali Ayurved is keen to acquire Ruchi Soya even as successful bidder Adani Wilmar is withdrawing its offer to buy the stressed edible oil maker, citing “delays” in closing the resolution process.
Patanjali Ayurved, the second-highest bidder for the asset, has written to resolution professional Shailendra Ajmera from EY and the lenders to Ruchi Soya that it is still interested in the asset and is willing to match Adani’s offer if allowed to, a person ware of the development said.
This comes after Adani Wilmar, in a letter to the resolution professional and the lenders, said it is withdrawing its Rs 5,474-crore offer for Ruchi Soya as the delays in closing the process are causing “deterioration of the asset” and are“detrimental to the interest of the stakeholders”, the person said.