Patanjali Foods likely to sell stake through FPO, What it means for shareholders?
Patanjali Foods FPO: Baba Ramdev in an interview with PTI has ensured investors that the company will have a Follow-on Public Offer (FPO) soon which will help in reducing the promoters stake in Patanjali Foods.
Patanjali Foods FPO: Stock Exchanges BSE and NSE have frozen the shares of Patanjali Foods (formerly known as Ruchi Soya Industries Ltd) for not meeting the public shareholding requirement in the stipulated time. Sanjeev Asthana, Chief Executive Officer, Patanjali Food Ltd in an exclusive interview with Zee Business said that the company had a deadline till December 2022 which they couldn’t meet.
“The deadline for meeting the 25 per cent public shareholding was till December 2022 and due to market volatility, we could meet the deadline and thus the bourse has taken this action,” said Asthana.
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