PFL in its filing said that the news of Patanjali Foods bringing another FPO in April is not true. FPL is not considering any other FPO to achieve minimum public shareholding.
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Patanjali Foods FPO Update: A day ago news came that Baba Ramdev can bring FPO of Pantjati Food next month. This FPO can be brought to achieve minimum public shareholding, which still has a gap of more than 6 per cent. On which Patanjali’s reaction has come today.
In the filing given to the stock market on behalf of Patanjali Food, it has been said that it is not preparing to bring any kind of FPO in April. PFL in its filing said that the news of Patanjali Foods bringing another FPO in April is not true. FPL is not considering any other FPO to achieve minimum public shareholding.
advice given to investors
In the filing, the company has advised investors and shareholders not to rely on any news article claiming that the company is working on plans to launch an FPO to acquire MPS. Let us tell you that today the company’s stock closed at Rs 896.50 with a loss of Rs 41.55, down 4.43 per cent.
Read also:Patanjali Foods FPO: Ramdev will make big money in April, bringing FPO
What is the rule of minimum public shareholding?
Under Rule 19A (5) of the Securities Contracts (Regulation) Rules, 1957, the listed unit is required to hold a minimum public shareholding of 25 per cent. Patanjati Food brought its FPO in March 2022 and after that the minimum public shareholding increased to 19.18 percent. This is 5.82 percent less than 25 percent as per the rules. At present, Acharya Balakrishna is the MD of Patanjali Ayurveda and co-founder of Patanjali Yogpeeth, Haridwar.
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Ban on shares till 8 April
Earlier, BSE and NSE have banned the transaction of shares of 21 promoter units including Patanjali Ayurveda Limited, Acharya Balakrishna, Patanjali Transport and Patanjali Gramodyog Nyas for non-compliance with minimum public shareholding norms. This ban will remain till 8 April.