Patanjali Foods, led by Baba Ramdev has launched an offer for sale (OFS) that will allow its top promoter entity Patanjali Ayurved to offload 2.53 crore shares of the company which at a floor price of ₹1,000 per share will lead to a nine per cent stake.
According to a regulatory filing by Patanjali Foods to the stock exchanges, the OFS will be executed over two days, with the offer being opened up for non-retail investors on July 13, and for the retail investors on July 14.
Patanjali Ayurved will be offloading about 2.53 crore equity shares under the OFS, which represents seven per cent stake, and in the case of oversubscription, the promoter is planning to sell an additional two per cent, leading to a nine per cent stake in total.
More updates on this matter are yet to come.
