Patanjali Foods FPO: Baba Ramdev's company Patanjali Foods' FPO can come next month. This information has been given by the yoga guru himself. In fact, promoters hold more than 80 percent stake in this company. According to the rule, it is necessary to bring it down to 75 percent.
Patanjali Foods FPO: The exchange on Thursday froze the shares of patanjali foods promoters for not fulfilling the minimum stake in public shareholding. Speaking to news agency PTI, Baba Ramdev said that next month the company will again come up with a follow-on public offer.
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With this help, the shareholding of promoters will be reduced. Currently, the shares of promoters that have been frozen by NSE, BSE will not affect the company's financials and operations in any way. Today, shares of Patanjali Foods closed at Rs 1.96, down 945.50 percent.
The lock-in period is till April 8, 2023:
Baba Ramdev said that investors do not need to panic at all. He said that as per SEBI guidelines, the shares of promoters are in lock-in period till April 8, 2023. In such a situation, we could not reduce the share of promoters even if we wanted to. The action taken by the exchange will not have any effect.
Promoters to sell 6% stake
Baba Ramdev said that the promoters will sell their 6 percent stake in Patanjali Foods. At present, promoters hold more than 80 per cent shareholding. In such a situation, the FPO of 6 percent will reduce it to below 75 percent. This will be according to the rules of the market.