Patanjali Foods clarifies as Supreme Court summons Baba Ramdev
Patanjali Foods says directions and observations of Supreme Court do not have any bearing on regular business operations
Patanjali Foods says directions and observations of Supreme Court do not have any bearing on regular business operations
SC bars Patanjali Ayurved from promoting and marketing products that claim to cure critical illnesses like heart issues and asthma
Rajiv Jain-led GQG has acquired a 5.96% stake, or about 2.15 crore shares, in Patanjali Foods in the recently concluded offer for sale (OFS) of the FMCG company.
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 share price of the edible oil manufacturer has been hitting the upper circuit for the last 58 sessions and has risen around 1,500% during the period.
Adani Wilmar reclaims ₹1 lakh crore m-cap; Patanjali Foods crosses ₹50,000 cr market cap
The four companies that will list on the bourses include - Patanjali Ayurved, Patanjali Medicine, Patanjali Wellness and Patanjali Lifestyle.
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 became debt-free after it repaid ₹2,925 crore worth of loans to banks.