Patanjali Foods assures no impact on financials even after promoter holding freeze by exchanges. Loktej Business, Regional News
[ad_1]
New Delhi: Patanjali Foods has assured investors that the recent freeze on its promoter holding by stock exchanges will not have any impact on its financials, as the company continues its journey of registering strong business and financial performance.
In an exchange filing, Patanjali Foods said it has a strong management team to navigate its long-term journey, and has received communication from its promoters to achieve the mandated minimum public shareholding (MPS). fully committed and is discussing various ways to increase the public shareholding.
The company further said that its promoters’ equity shares are already subject to lock-in till April 2023 as per Securities and Exchange Board of India (SEBI) regulations, and hence, the recent action taken by the stock exchanges does not seem to have any impact Is. The company said its promoters’ equity shares have not been pledged.
“We are fully committed to being one of the leading FMCG players in the country with sustained growth,” the company said.
Patanjali Foods is a subsidiary of Patanjali Ayurveda, an Indian consumer goods company founded by yoga guru Baba Ramdev. The company is known for its herbal and natural products and has rapidly expanded its product line to include food and beverages.
[ad_2]
Source link
