Patanjali Plans To Raise Rs 1,000 Crore To Fund Expansion  

Baba Ramdev-backed Patanjali Ayurved Ltd., India's second largest consumer goods maker, plans to raise up to Rs 1,000 crore as it looks to boost production and launch new products.

The company is looking at borrowing funds from banks, said S K Tijarawala, a spokesperson of Patanjali.

The maker of Dantkanti toothpaste and Keshkanti shampoo said it will reach a production capacity of 50,000 crore units by the end of this year and plans to double it over the next three years. The company has 50 manufacturing units across the country, including large food parks, Tijarawala told BloombergQuint over the phone. The company wants to scale up production at its existing facilities in Maharashtra, Assam, Andhra Pradesh, Madhya Pradesh, Noida, Uttar Pradesh and Uttrakhand, he said.

Patanjali replaced ITC Ltd. as India's second largest maker of fast moving consumer goods with a revenue of more than Rs 10,500 crore in the year ended March. More than a third of it came from five products: cow's ghee, toothpaste, ayurvedic medicines, shampoos and soaps. It continues to enter newer categories.

Also Read: Products That Helped Patanjali Become India's No. 2 Consumer Goods Maker

Earlier, the company announced that it will enter branded apparel and will launch its collection in the summer of 2018 for women and kids. It also launched a security services firm that will enlist guards from Patanjali's 11 lakh yoga centres across India.