Patanjali Foods Limited (NSEI:PATANJALI) on April 26, 2024 said it will evaluate a proposal to acquire the non-food business of promoter group Patanjali Ayurved Limited, led by Baba Ramdev. In a regulatory filing, Patanjali Foods informed that its board has discussed the initial proposal received from Patanjali Ayurved Ltd. for a sale of the latter's non-food business undertaking to the company. ?The board accorded its in-principle approval for evaluating the most efficient mode of enhancing synergies with Patanjali Ayurved non-food portfolio in any manner on an arm's length basis,?

the filing said. The board also authorised officials to carry out due diligence, appoint professionals, negotiate the terms and conditions of the proposal, and report the findings to the Audit Committee and the board for further consideration. The proposal received from Patanjali Ayurved ?may offer synergies to the company's product portfolio with an array of brands and contribute to the growth in terms of revenue and EBITDA?, Patanjali Foods said.