Patanjali Ayurveda had earlier said it would sell a 7% stake in the company through a sale offer. In case of oversubscription, he also has to sell 2%. Patanjali Foods promoter Patanjali Ayurvede said on July 13 that he would not take the 2% oversubscription option (also known as the greenshoe option). The reason for the change of heart was not disclosed.
Patanjali Ayurveda had earlier said it would sell a 7% stake in the company through a sale offer. In the case of oversubscription, an additional 2% must be sold. “We would like to inform the exchange of our intention not to exercise the oversubscription option, so the total size offered will be the same as the basic offering size,” said Patanjali, promoter of the company. Ayurveda said. “As a result, subject to receipt of a valid offer, 25,33,964 shares will be reserved for allocation to individual investors in a public offering on July 14, 2023.”
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