Stock exchanges freeze promoter shareholding of Patanjali Foods

Action after co fails to meet 25% public float

Stock exchanges have frozen the promoter shareholding of Patanjali Foods after the company failed to meet the 25 per cent public shareholding within the stipulated time period. 

The promoter stake in the Baba Ramdev-backed company is currently at 80.82 per cent. 

“The company had to increase its public shareholding from 19.18 per cent to 25 per cent and while management of the company was discussing various means and methods for increasing its public shareholding, in the meantime, the company received an email from the stock exchanges freezing the shareholding of the promoters and promoter group,” Patanjali Foods said in a