Patanjali says FPO not on cards, clarifies stance on minimum public shareholding issue Ramdev

With reference to the recent news article titled “Patanjali Foods to launch another FPO; will start the process from April”, Patanjali Foods Limited (“Company”) has clarified that it is not considering undertaking another further public offering (“FPO”) for achieving minimum public shareholding.

Additionally, it has also stated that the Company and its Promoters, in compliance with provisions of applicable law including Rule 19(2) and Rule 19A of the Securities Contracts (Regulation) Rules, 1957 (“SCR Rules”) read with the consequent circulars issued the Securities and Exchange Board of India (“SEBI”), are considering all modes for achieving minimum public shareholding of the Company (“MPS”) as specified by SEBI in its circular No. SEBI/HO/CFD/PoD2/P/CIR/2023/1 dated February 3, 2023, including by way of an Offer for Sale through the Stock Exchange mechanism and/or Qualified Institutions Placement.

Investors and shareholders are accordingly advised to not rely on any news article suggesting that the Company is in the process of undertaking an FPO for achieving MPS. Further, investors and shareholders are advised to refer to only corporate announcements made by the Company in respect of its business operations and its statutory/regulatory compliance at the official website of NSE.