With stock exchanges freezing shares of its promoters, Patanjali Foods on Thursday said the move will not impact the company’s operation and it will start the process of launching a Follow-On Public Offering (FPO) in April to increase the public shareholding to 25 per cent.
Stock exchanges NSE and BSE have frozen the shares of promoters of Baba Ramdev-led Patanjali Group firm Patanjali Foods, which is a major edible oil player.
In an interview with PTI, Ramdev assured his investors and public shareholders that there would be no impact of Patanjali Foods Ltd’s (PFL) operation and financial performance and its growth trajectory will remain intact.
“There is no reason for the investors to worry,” he said.
According to Ramdev, promoters’ shares are already under lock-in as per Sebi guidelines till April 8, 2023, which is one year from the date of listing, and the latest move by stock exchanges do not appear to have a negative impact on the functioning of PFL.
He further said that PFL
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