Patanjali Foods’ (PFL) promoters are planning to sell shares to institutional investors in June for dilution of a 6 per cent stake to meet minimum public shareholding norms of 25 per cent. At present the public shareholding in PFL stands at 19.18 per cent, which needs to be increased to a minimum of 25 per cent.
Rule 19A(5) of the Securities Contracts (Regulation) Rules, 1957 mandates a listed entity to have a minimum public shareholding (MPS) of 25 per cent. Patanjali Foods, erstwhile Ruchi Soya Industries, was acquired in September 2019 by Baba Ramdev-led Patanjali Group through a corporate insolvency resolution process.
Patanjali Foods, erstwhile Ruchi Soya Industries, sells its products under brands like Ruchi Gold, Mahakosh, Sunrich, Nutrela, Ruchi Star and Ruchi Sunlight.
Company Name | CMP |
---|---|
Adani Wilmar | 357.45 |
Patanjali Foods | 1510.25 |
Gokul Agro Resources | 128.00 |
Vijay Solvex | 868.00 |
BCL Industries | 58.86 |
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