The NSE saw an intraday low of Rs 1,850 per share for Patanjali Foods Limited shares on Friday, September 13, after news reports claimed that up to 1.2 crore shares, amounting to 3.3 per cent of the company's equity stake, had changed hands in a block deal.
According to reports, the deal was worth Rs 2,223.4 crore, with a share price floor of Rs 1,815 per share. It was said that the deal's promoters were the most likely sellers. But official confirmation regarding the parties and the precise amount of the deal was still pending.
The stock opened at Rs 1,885.10 per share on the National Stock Exchange. The shares of Patanjali Foods slumped to Rs 1,850.00 in the opening hour of the stock exchanges today.
Pantajali Foods has recorded an all-time high price of Rs 1,992.20 per share and recorded a 52-week high level on the same level as all-time high price.
The stock was currently trading at Rs 1,870 per share on the National Stock Exchange.
Previous attempts at liquidating promoter stake
According to earlier reports, the Patanjali Group intended to sell a 3 per cent stake in Patanjali firms as part of a block trade in order to raise USD 240 million.
For Rs 1,100 crore, Patanjali Foods purchased Patanjali Ayurved's non-food business in July. According to the company, verticals in the home and personal care industries, including dental, skin, hair, and home care, are included in the acquisition.
Company's financials
Patanjali Foods released its financial statements for the June quarter of FY24. During the June quarter of FY25, the company's revenue from operations fell by more than 7 per cent compared to the same period last year, to Rs 7,173.05 crore from Rs 7,767.1 crore in FY24.
Revenue from operations for the company fell by more than 12 per cent from Rs 8,221.66 crore in the March quarter of FY24.
