Baba Ramdev Patanjali Foods: Florida-based GQG Partners, which invested in Adani Group companies following the Hindenburg Research Report revelations, has now bought a stake in Baba Ramdev’s MMCG company Patanjali Foods stock. have invested. Rajeev Jain’s GQG Partners has invested around Rs 2400 crore in the shares of Patanjali Foods.
In the OFS (Offer For Sale) of Patanjali Foods, GQG Partners has bought 5.96 per cent or 2.15 crore shares of the company. The company had fixed a floor price of Rs 1,000 per share in the OFS. But non-retail investors have been allotted at a price of Rs 1103.80 per share. In the offer for sale, Patanjali Foods offered 7 per cent stake or 2.28 crore shares to non-retail investors. In which GQG Partners bid for shares worth a total of Rs 2400 crore. The non-retail quota of the Offer for Sale was subscribed 2 times and the retail quota was subscribed 3 times. At the close of the market on Monday, the share of Patanjali Funds closed at Rs 1251.45 with a gain of Rs 2.30. The market cap of the company is Rs 45,301 crore.
For the first time in March 2023, GQG Partners came into limelight when it decided to invest in Adani group companies. Due to Hindenburg’s research report, when there was a sharp decline in the shares of Adani Group, in the first week of March, Rajiv Jain’s GQG Partners bought shares of Adani Group worth Rs 15,446 crore. In which the flagship company is Adani Enterprises, Adani Ports, Adani Green Energy and Adani Transmission.
In the month of May, GQG Partners had invested in Adani group companies and also indicated that the company may further invest in the shares of the group. In the month of June, Rajeev Jain’s GQG Partners once again invested in stocks of Adani group companies.
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