Ruchi Soya Industries, one of India's largest edible oil companies, is taking over Gemini
Edibles and Fats India Pvt Ltd. The Mumbai-based firm said in a disclosure that it will make an equity investment in Gemini, after which it will become its subsidiary. The board of Ruchi Soya has
approved this deal.
The shares of Ruchi Soya closed at Rs 94.7, up by more than 6%.
Ruchi Soya has brands like Nutrela Soyumm (Soyabean Oil), Ruchi Gold (Palmolein Oil), Sunrich (Sunflower Oil) and Mandap (Mustard Oil). The company reported revenues of Rs 12,719 crore for FY09 with a net profit of Rs 94.4 crore.