Patanjali Ayurved hires investment banks to raise over US$150m

INDIA – Yoga guru Baba Ramdev’s Patanjali Ayurved has hired two investment banks to raise structured credit worth Rs1,000 crore, two people aware of the development said. One of the two investment banks is a Hyderabad-based boutique firm specializing in the consumer packaged goods segment, the people mentioned above said on condition of anonymity, adding that the banks have been asked to approach both foreign and domestic funds. In August, Patanjali had announced its intention to borrow Rs1,000 crore to finance its expansion plans. “The discussions assume significance since this…

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