Patanjali Foods launches OFS, promoter to offload up to 9% stake

At the upper end of the price band, the company plans to raise about Rs 840 crore. Investors can bid for a minimum of 43 equity shares and in multiples thereafter. About 50% of the offer is reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.

The government will offload about 3.76 crore shares, which represents 4% stake through the OFS, and in the case of oversubscription, an additional 4% stake will be under sale

Patanjali Foods' (PAFO.NS) largest shareholder Patanjali Ayurved said on Wednesday it plans to sell up to 9% of its stake in the edible oil maker to align with rules on minimum public shareholding.

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Patanjali Ayurved has made a late bid to acquire debt-laden Rolta India with an all-cash offer of approximately ₹830 crore. This bid comes after Ashdan Properties was declared the highest bidder by banks last week. Patanjali Ayurved approached the National Company Law Tribunal in Mumbai, requesting lenders to consider its offer. The tribunal has put the onus on the committee of creditors to decide whether to entertain the bid since it emerged after the completion of the bidding process.

The promoter of Vedant Fashions, Ravi Modi Family Trust, plans to sell 7% stake in the company through an OFS. The offer is being proposed with an option to sell an additional 2.88% stake in the event of oversubscription. The floor price is fixed at Rs 1,161 per share, which is nearly 7% discount to the last closed price. The offer is open for non-retail investors only and on May 19, which is the T

HMA Agro Industries, a leading exporter of frozen buffalo meat in India, is set to launch its Rs 480 crore ($72m) initial share sale which opens on 20 June and closes on 23 June. The public offer comprises a fresh issue of equity shares up to Rs 150 crore and an offer for sale of Rs 330 crore by promoters and selling shareholders. The price band for the public offer has been set at Rs 555-585 per equity share, the upper end of which values the company at Rs 2,929 crore.

Patanjali Foods’ largest shareholder announced on Wednesday that it plans to sell up to nine per cent of its stake in the company at a floor price of ₹1,000 per share

In the offer of sale (OFS), NRI Rajiv Jain-led GQG picked a 5.96% stake or about 2.15 crore shares of Patanjali. The floor price was kept at Rs 1,000 per share but allotment to non-retail investors was done at a share price of Rs 1,103.80. GQG's investment would, therefore, be worth around Rs 2,400 crore.

Promoters of IndoStar Capital Finance propose to sell up to 1,93,40,000 equity shares representing 14.21% of the total paid-up equity shares with a face value of ₹10.00. The floor price of the offer will be be ₹ 95 per equity share