Sufficient portion of equity infusion will be used to reduce debt: Ruchi Soya

Ruchi Soya Industries will sell 51 percent stake to global PE firm Devonshire Capital for Rs 4,000 crore. In an interview to CNBC-TV18, Satendra Aggarwal, COO of the company spoke about the same.

Aggarwal said that the company is the largest importer of edible oil in India and largest processor and seller of packed goods for last many years.

Therefore, the investor company will invest 51 percent in the company.

He further said that edible oil brand will be spun off and will be owned by the investor.

Sufficient portion of the equity infusion will be used to reduce debt, he added.