Patanjali Foods shares fall 5% after promoter launches OFS at 18.6% discount
The OFS, at floor price of ₹1,000 apiece, will fetch around ₹3,258 crore to Baba Ramdev-led Patanjali Ayurved.
The OFS, at floor price of ₹1,000 apiece, will fetch around ₹3,258 crore to Baba Ramdev-led Patanjali Ayurved.
Promoter shareholding in Patanjali Foods currently stands at 80.82%.
The Patanjali-owned company's revenue from operations rose 37.72% year-on-year to ₹6,663.72 crore in Q4.
The Patanjali Ayurved-owned company's stock jumped 14.71% to ₹938 apiece on the National Stock Exchange.
A little help from lenders facilitated Ruchi Soya’s follow-on public offer.
Authum Investment picks up 12.69 lakh shares in anchor placement.
Ruchi Soya allocated 19,843,153 equity shares to anchor investors at the upper limit of the price-band of its offer, i.e. ₹650 per equity share.
"Ruchi Soya-Patanjali will be bigger than HUL. We will beat them in both turnover as well as EBITDA."
The follow-on public offer of Ruchi Soya will open on March 24 for subscription.
This comes after the company's board approved a red herring prospectus (RHP) for its follow-on public offering (FPO) worth ₹4,300 crore.