Patanjali Foods says not considering FPO, but other modes like OFS, QIP to raise public shareholding

Updated: Mar 17 2023 8:57PM

New Delhi, Mar 16 (PTI) With stock exchanges freezing shares of its promoters, Patanjali Foods on Friday clarified that it is not considering Follow-on Public Offer (FPO) to increase public shareholding but exploring other modes like Offer For Sale through stock exchanges and qualified institutional placement.

Stock exchanges NSE and BSE have frozen the shares of promoters of Ramdev-led Patanjali Group firm Patanjali Foods, which is a major edible oil player.

In a regulatory filing, Patanjali Foods Ltd said it "is not considering undertaking another further public offering ('FPO') for achieving minimum public shareholding." The company said, it is "considering all modes for achieving minimum public shareholding of the company ...including by way of an Offer for Sale (OFS) through the Stock Exchange mechanism and/or Qualified Institutions Placement (QIP)." In an interview with PTI on Thursday, Ramdev assured his investors and public shareholders that there would be no impact on Patanjali Foods operation and financial performance and its growth trajectory will remain intact.