Baba Ramdev getting into IT business? Patanjali's Rolta bid sparks buzz – Business Today

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Patanjali Ayurved has reportedly expressed interest in buying the debt-ridden technology firm Rolta India. The Baba Ramdev-led company has made a cash offer of Rs 830 crore, just weeks after Pune-based Ashdan Properties was declared the highest bidder for Rolta, as per an ET report.
Patanjali Ayurved has approached the National Company Law Tribunal (NCLT) to include its offer. A panel will decide the firm’s inclusion in the bidding process.
Kamal Singh promoted Rolta is a defence focussed software company. The firm was admitted to the bankruptcy process in January 2023. It owes Union Bank of India (UBI) a total of Rs 7,100 crore and another Rs 6,699 crore to unsecured foreign bond holders led by Citigroup.
Rolta first defaulted on foreign currency loans in 2016. After dodging bankruptcy thrice, it finally landed on NCLT table after Union Bank filed a petition. The company provides services in Defense and Home Land Security, Power, Financial Services, Manufacturing, Retail and Healthcare. In the financial year 2022, the company had a loss of ₹1000 crore. While the revenue during this period was only Rs 38 crore.
Rolta’s real estate, especially in Mumbai, could be a possible draw for the bidders. ET added that Patanjali Ayurved may also be looking at Rolta’s IT infrastructure to firm up its plans for a home delivery application.
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