1Baba Ramdev’s foray into IT: Patanjali’s bid for Rolta sparks interest.

  • Patanjali Ayurved eyes Rolta India, offering Rs 830 crore.
  • Rolta, a defense software firm, faces bankruptcy amid financial woes.
  • NCLT panel evaluates Patanjali’s bid alongside other contenders.
  • Baba Ramdev’s strategic move into IT sparks industry interest.

In an unexpected turn of events, Patanjali Ayurved, led by Baba Ramdev, has expressed strong interest in acquiring the debt-ridden technology firm Rolta India. According to an ET article, the company submitted a hefty cash offer of Rs 830 crore shortly after Pune-based Ashdan Properties was declared the highest bidder for Rolta.

Patanjali’s Bid Amidst Rolta’s Financial Turmoil :

Rolta India, led by Kamal Singh, is largely a defense-focused software company. The corporation found itself in financial trouble, prompting its admittance to the bankruptcy process in January 2023. Notably, it owes a staggering Rs 7,100 crore to Union Bank of India (UBI) and another Rs 6,699 crore to unsecured international bond investors, led by Citigroup.

Rolta’s Financial Journey and Offer to the NCLT :

Rolta’s financial troubles stem from their initial default on foreign currency borrowing in 2016. Despite successfully avoiding bankruptcy three times, it eventually came under the NCLT’s gaze after Union Bank filed a petition. The organisation, which provides services in Defence, Homeland Security, Power, Financial Services, Manufacturing, Retail, and Healthcare, experienced a substantial loss of β‚Ή1000 crore in fiscal year 2022, with revenues barely surpassing Rs 38 crore.

Patanjali’s Strategy and Potential Acquisition :

Patanjali Ayurved’s interest in Rolta goes beyond a mere financial commitment. Patanjali is looking to enhance its market position and diversify its portfolio by acquiring Rolta’s prized assets, including its real estate holdings, particularly in Mumbai. Furthermore, there is suspicion that Patanjali may use Rolta’s sophisticated IT infrastructure to support its goals for a full home delivery application.

NCLT Panel to Consider Patanjali’s Offer :

Patanjali Ayurved has formally asked the National Company Law Tribunal (NCLT) to review its bid for Rolta. The decision on Patanjali’s inclusion in the bidding process now lies with a commission tasked with examining the firm’s application alongside other competitors.

Conclusion: Ramdev’s Bold Venture into Technology :

Baba Ramdev’s entry into the IT sector through Patanjali’s bid for Rolta is a bold and unexpected move by the well-known yoga guru. As the story progresses, the outcome of Patanjali’s bid will not only determine Rolta’s future, but will also shed light on Patanjali’s strategic vision and evolving business trajectory in the technology sector.


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