![]() therefore, we do not perceive any impact of this action by the stock Eechanges," it said. It further said its promoters' equity shares are already under lock in as per the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 till April 2023 (one year from date of listing i.e. However, PFL came out with a Follow-n Public Offering (FPO) in March, 2022, and increased MPS to 19.18 per cent by allotting 6.61 crore equity shares of Rs 2 each at a premium of Rs 648.Īt present 19.18 per cent of shares in the company are held by public shareholders, therefore, the company is required to further increase its public shareholding by 5.82 per cent to achieve the MPS. The promoters were trying to take suitable steps to achieve the MPS in a timely manner and owing to the Covid outbreak and market conditions prevailing at that point of time, the public shareholding could not be brought up to 10 per cent by June 18, 2021. They are confident of achieving mandatory MPS within the next few months," it said. They have been discussing various modes best suited for increasing public shareholding. "We have received a communication from our promoters that they are fully committed to the mandatory compliance of achieving minimum public shareholding. In a filing, PFL said its promoters are "fully committed" to achieving the minimum public shareholding and discussions are going on for this. Rule 19A(5) of the Securities Contracts (Regulation) Rules, 1957 mandates a listed entity to have a minimum public shareholding (MPS) of 25 per cent. ![]() On Thursday, Patanjali Foods Ltd (PFL) informed that leading bourses BSE and NSE had frozen shares of its 21 promoter entities, including Patanjali Ayurved for failing to meet minimum public shareholding norms.Īlso Read | Apple supplier Foxconn wins AirPod order, plans $200 mn factory in India ![]() Patanjali Foods Ltd, erstwhile Ruchi Soya Industries, on Thursday said the freezing of its promoters' shareholding in the company "will not have any impact" on its financial position and functioning of the company. Stock exchanges NSE and BSE have freezed shares of promoters of Baba Ramdev-led Patanjali group firm Patanjali Foods, but the company said the decision will not have any impact on its functioning. ![]()
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