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If you also want to buy shares of Baba Ramdev’s company Patanjali Foods, then there is a golden opportunity for you. Shares of this company of Baba Ramdev are available at a huge discount. The company has offered this offer for just two days.
Because of this the need to sell
Actually Patanjali Foods has brought a new offer for sale ie OFS. In this offer, the promoter company Patanjali Ayurveda Limited is selling about 7 percent of its stake, which is equal to 2.53 crore shares of Patanjali Foods Limited. Patanjali Foods has needed to reduce the promoters’ stake to comply with the rules after being listed on the stock market.
Shares are available at such a discount
Patanjali Foods manufactures edible oil and other food products. It is currently counted among the leading FMCG companies of India. The company has fixed the minimum price for this OFS at Rs 1,000 per share. While Patanjali Foods shares closed at Rs 1,228.05 on BSE on Wednesday with a slight gain. In this way, the shares of Baba Ramdev’s company are available at a discount of 18.36 per cent.
Additional shares can be sold
According to Patanjali Foods, this offer is only for two days. The OFS of the company will open on July 13 and close on July 14. Patanjali Foods is looking to raise at least Rs 2,530 crore from this offer. Patanjali Foods says that there will be an offer of 25,339,640 shares of face value of Rs 2 each in the OFS, and there will also be a provision to sell 7,239,897 additional shares. If additional shares are sold, the promoters’ stake will come down by 9 per cent.
Current shareholding pattern of the company
Currently the market capitalization of Patanjali Foods is Rs 44,454.78 crore. In this, the promoter company Patanjali Ayurveda has 14,25,00,000 shares i.e. 39.37 percent stake. All the promoters together hold 29,25,76,299 shares i.e. 80.82 per cent stake in Patanjali Foods. According to the existing rules, the promoters’ stake in any publicly listed company cannot exceed 75 per cent.
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