Stock exchanges freezing promoter shareholding in Patanjali Foods has not affected the company’s functioning, said the firm in a press statement on Thursday.
“We do not foresee any adverse or negative impact on the financials position of the Company owing to the instant freeze of Promoters’ shareholding by the stock exchanges,” it said.
The statement was issued after Patanjali Foods' promoters—yoga guru Baba Ramdev is among them—failed to meet the 25 per cent public shareholding within the stipulated time period.
The promoter stake in the company is at 80.82 per cent. The Securities and Exchange Board’s rules allow a maximum