India’s Patanjali Foods top shareholder to sell up to 9% stake
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BENGALURU, July 12 (Reuters) – Patanjali Foods’ (PAFO.NS) largest shareholder Patanjali Ayurved said on Wednesday it plans to sell up to 9% of its stake in the edible oil maker to align with rules on minimum public shareholding.
Patanjali Ayurved currently owns close to 40% stake in the company and along with other influential shareholders, known as promoters, hold a combined 80.8% stake, while the public holds under 20%.
India’s markets regulator, the Securities and Exchange Board of India, mandates that public shareholders hold at least 25% in listed companies.
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