Baba Ramdev-led Patanjali Ayurveda Ltd. In the stock markets, its group company Patanjali Foods Ltd. Will sell 2.53 crore shares or 7 percent stake. The company is going to take this step to meet the listing requirements. Shares of edible oil and other food products company Patanjali Foods will be sold through the offer for sale (OFS) route. The minimum price for this offer has been fixed at Rs 1,000 per share. This offer will open on 13th July and close on 14th July.
Will be able to raise at least Rs 2,530 crore from the share sale
In the information sent to the stock markets, Patanjali Foods has said that at the minimum price, it will be able to raise at least Rs 2,530 crore from this share sale. Shares of Patanjali Foods closed at Rs 1,228.05 on BSE today with a slight gain. The market capitalization of the company stood at Rs 44,454.78 crore.
Company gave information
According to the information given to the stock exchange, Patanjali Foods said that the promoter is thinking of selling 25,339,640 equity shares of face value of Rs 2 each. This share is 7 percent of the total paid-up equity share capital of the company. There will also be provision for additional sale of 7,239,897 shares representing 2 per cent of the total paid-up equity share capital in oversubscription status. In this case, the total OFS will be of 32,579,537 shares, which is 9 percent. (with language input)
