GQG Partners has bought 2,15,64,517 equity shares of Patanjali Foods through Offer For Sale (OFS) route, according to a regulatory filing. This translates into a 5.96 per cent stake in Patanjali Foods
In an interview with PTI, Ramdev said the company would like to grow its food and FMCG business as well as oil palm plantation vertical in a big way.
Patanjali Foods' total income rose to Rs 7,962.95 crore in the fourth quarter of the last fiscal from Rs 6,676.19 crore in the corresponding period of the previous year, according to a regulatory filing
Patanjali Ayurved, a promoter of Patanjali Foods, will garner at least Rs 2,530 crore from the share sale
Patanjali Foods Ltd (PFL), erstwhile Ruchi Soya Industries, was acquired in September 2019 by Baba Ramdev-led Patanjali Group through a corporate insolvency resolution process.
Patanjali Food's locked in 5 per cent lower circuit even after management assures on complying with promoter share norms
Group firm Patanjali Foods (previously Ruchi Soya) will also play a significant part in achieving the milestone, having set a target of Rs 45,000-50,000 crore turnover in next five years.
The freeze will remain in effect until Patanjali Foods achieves the stipulated public shareholding, the company said in a statement
In a press conference, he also announced that the Patanjali Group will provide jobs to 5 lakh people in the coming years
The development comes days after the company raised Rs 4,300 crore via follow-on public offerings (FPO) from March 24 to March 28.
The fall came a day after the company announced the allotment of shares under the Rs 4,300 crore-Follow on Public Offer (FPO) which had also come under...