GQG Partners acquires 5.96% stake in Patanjali Foods via offer of sale
The floor price for the deal was kept at Rs. 1,000 per share but the allotment to non-retail investors was done at a share price of Rs. 1,103.80.
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NRI Rajiv Jain-led GQG Partners, which has in recent times poured in billions of dollars in Adani Group firms after the Hindenburg report, has now invested around Rs. 2,400 crore in Ramdev-led fast-moving consumer goods firm Patanjali Foods, according to a BSE notice. In the offer of sale (OFS), the GQG Group picked a 5.96 per cent stake or 21.5 million shares in the FMCG company.
The floor price for the deal was kept at Rs. 1,000 per share but the allotment to non-retail investors was done at a share price of Rs. 1,103.80. As a result, GQG's investment in the Yoga guru led-company would be worth around Rs. 2,400 crore.
The floor price for the deal was kept at Rs. 1,000 per share but the allotment to non-retail investors was done at a share price of Rs. 1,103.80. As a result, GQG's investment in the Yoga guru led-company would be worth around Rs. 2,400 crore.
Topics : Adani Group BSE
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First Published: Jul 17 2023 | 11:37 PM IST