Baba Ramdev Says Patanjali Foods To Launch Another FPO After Shares Freezing By Stock Exchanges

Patanjali Foods FPO: Yoga Guru Baba Ramdev’s Patanjali Group’s FMCG company Patanjali Foods is preparing to bring its second FPO i.e. Follow on Offer within just one year. Baba Ramdev himself has given this information. The company has taken this decision after the Stock Exchange’s decision to freeze the shares of the promoter of Patanjali Foods. Patanjali Foods will reduce public shareholding to 25 percent by bringing its FPO.

In an interview to PTI, Baba Ramdev assured investors and shareholders that there would be no impact on the operations, financial performance and growth of Patanjali Foods Limited. He said that investors need not worry. Baba Ramdev said that Patanjali Foods will bring its second FPO.

He said that as per SEBI guidelines, the promoter’s shares are already in the lock-in period till April 8, 2023. The period of one year after listing is ending on this date and this decision of the stock exchanges will not have any impact on the functioning of Patanjali Foods Limited. Baba Ramdev said that Patanjali Group is running the operation of Patanjali Foods very well. And she is taking full care of the expansion of the business to distribution, profit and performance.

Baba Ramdev said that the company will sell 6 percent stake through FPO. He told that the FPO has been delayed due to bad market sentiment. Baba Ramdev told that after the end of the current financial year, the company will start the process of FPO.

Patanjali Foods has informed that stock exchanges BSE and NSE have frozen shares of 21 promoter entities, including Patanjali Ayurveda and Acharya Balakrishna, who is the Managing Director. It is necessary for listed companies in the stock exchange to have at least 25 percent public shareholding. Last year in March 2022, Patanjali Foods brought its FPO.

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