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Baba Ramdev has used a similar method to Adani to rig the share price of #PatanjaliFoods and raised money through FPO. Baba Ramdev bought Ruchi Soya for 4350 Cr in 2019. By keeping free float by just 1.1%, the stock went up by 8000%. The market cap at the peak was 50 thousand Cr. 
In March 2022 Patanjali sold 19% of shares at Rs 650 per share to raise 4300 Cr to repay the debt it took to buy the company.
So he bought the company using debt from SBI and kept just 1.1% of shares tradable so that the share price got skyrocketed.
So he bought the company using debt from SBI and kept just 1.1% of shares tradable so that the share price got skyrocketed.
Baba Ramdev sold the same shares at 4000% higher valuations than his purchase value. So can one conclude that Baba Ramdev got a 35 thousand crore currently valued the company free of cost? Amount infused by Patanjali when they bought Ruchi Soya through insolvency was just 115 Cr.
