Patanjali OFS retail portion sees strong demand from retail investors

Patanjali Foods’ offer for sale (OFS) witnessed strong demand from retail investors given the attractive discount to the secondary market price. The retail quota saw 7.6 million bids, 3 times the 2.53 million on offer. A day earlier, the institutional investor portion of the OFS had seen nearly two times subscription. Shares of Patanjali Foods on Friday rose 5 per cent to close at Rs 1,225. The base price for the OFS was set at Rs 1,000. Most bids from retail investors came at around Rs 1,107 per share. Despite the strong demand, promoter Patanjali Ayurved has decided not to exercise the greenshoe option and will sell only 7 per cent. Following the OFS, the company will become compliant with the 25 per cent minimum public shareholding norms.