Mumbai [India], April 11 (HornbilllTV): The board of directors of FMCG major Ruchi Soya Industries Limited has decided to change the company’s name to ‘Patanjali Foods Limited’.

In a regulatory filing to the stock exchanges on Monday, Ruchi Soya Industries Limited said the company’s board of directors have “decided to change the name of the Company to Patanjali Foods Limited or any other name as may be made available by Registrar of Companies, Maharashtra, Mumbai subject to all other applicable approval.”

The company’s board meeting was held on 10th April.

Ruchi Soya Industries Limited is a part of Yoga Guru Ramdev-led Patanjali Ayurveda. Patanjali acquired Ruchi Soya Industries Limited in 2019 for INR 4,350 crore through an insolvency process.

Ruchi Soya Industries Limited said its Board of Directors at a meeting held on 10 April accorded its “in-principle approval for evaluating the most efficient mode of enhancing synergies with Patanjali Ayurveda Limited food portfolio in any manner on an arm’s length basis.”