NEW DELHI: GQG Partners on Friday increased its stake in Patanjali Foods by acquiring a 1.24% holding from promoter group entity Patanjali Ayurved Ltd for about Rs 835 crore through an open market transaction.
According to the bulk deal data available on the NSE, Billionaire Rajiv Jain-backed asset management firm GQG Partners purchased 45.03 lakh shares or 1.24% stake in edible oil major Patanjali Foods. The shares of the company were picked up at an average price of Rs 1,854 apiece. After the latest transaction, GQG Partners’ shareholding in Patanjali Foods has increased to 4.43% from 3.19%.
Meanwhile, Patanjali Ayurved on Friday sold 97.92 lakh shares or 2.71% stake in the company for Rs 1,815 crore, the data showed on the NSE. The shares were offloaded at an average price of Rs 1,854.08 per piece, taking the deal value to Rs 1,815.67 crore. After the share sale, the promoter and promoter group entities’ of Patanjali Foods has come down to 70.1% from 72.81%.
Apart from GQG Partners, details of the other buyers of Patanjali Foods’ shares could not be ascertained. Shares of Patanjali Foods fell 3.75% to close at Rs 1,858.90 apiece on the NSE. GQG Partners, a key investor in Adani Group, last month increased its stake in GMR Airports Infrastructure to 5.17% by snapping up additional shares worth over Rs 433 crore.
Incorporated in 1986, Patanjali Foods, erstwhile Ruchi Soya Industries, is one of the leading FMCG players in India. The company is present in edible oils, Food & FMCG and wind power generation segments. It markets its products through brands like Patanjali, Ruchi Gold, Mahakosh, Nutrela, etc.
Picked up at average price of Rs 1,854 apiece
Asset management firm GQG Partners purchased 45.03 lakh shares or 1.24% stake in edible oil major Patanjali Foods. The shares of the company were picked up at an average price of Rs 1,854 apiece. GQG Partners’ shareholding in Patanjali Foods has increased to 4.43% from 3.19%.