SEBI, which regulates the stock market, has issued a notice to Ruchi Soya, the company of Yoga guru Ramdev. In the notice, Sebi has asked Ruchi Soya to explain why yoga guru Ramdev violated regulatory norms. Let us tell you that Ramdev’s Patanjali had acquired Ruchi Soya in the year 2019 through the insolvency process. This company is listed on the stock exchange.
What’s the matter: Actually, during a yoga session aired on Aastha TV, yoga guru Ramdev is seen urging people to invest in Ruchi Soya’s stock. Along with this, Ramdev has also said some such things in the video, which are suspicious in the eyes of SEBI. After the same video clip went viral, capital markets regulator SEBI has issued a notice to Ruchi Soya.
What is in the video clip: In this video clip Ramdev says, “Nowadays, there is a lot of discussion on FPO (Follow-on Public Offer) of Ruchi Soya. Now, do you want to be a millionaire? I will give a mantra to become a millionaire. I have just learned how to invest in the stock market. To trade in shares, a Demat account is required. So, open a Demat account today.” Even the words of yoga guru Ramdev are being seen by SEBI as investment advice.
Emphasis on buying shares: The things Ramdev has said in front of this in the video are suspicious in the eyes of SEBI. Ramdev further adds, “When I tell you, buy Ruchi Soya shares in your Demat account. Buy Patanjali Ayurved shares after Ruchi Soya. Let us tell you here that Patanjali is not yet listed in the stock market, but the company has announced its entry into the stock market through IPO. It is believed that Patanjali will be listed in the stock market next year.
Guaranteed to become a millionaire: In this video clip, Ramdev further says, “For Patanjali, I will do more. I need to talk within limits. Ruchi Soya’s FPO continues. Get Patanjali’s assessment done by any agency, the market cap will be in thousands of crores. Hence, anyone who invests in the shares of Patanjali and Ruchi Soya cannot be prevented from becoming a millionaire. I am giving this guarantee to you.”
In this video, Ramdev further says that does not buy or sell shares. Buy stocks, sit tight and concentrate. However, SEBI has objected to this video clip of yoga guru Ramdev and issued a notice to Ruchi Soya.