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Patanjali Group aims to raise $240m via block trade at ₹1,815

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Synopsis:

Patanjali Group is preparing to raise $240 million by selling a 3% stake through a block trade at ₹1,815 per share. Patanjali Foods share price closed at ₹1,931.35, approaching its 52-week high of ₹1,992.20.

Patanjali Group news today

The Patanjali Group is expected to raise up to $240 million through a block trade scheduled for Friday, September 13. This transaction involves selling a 3% stake in the group’s firms at a floor price of ₹1,815 per share. The strategic move comes as the company capitalises on the rising valuation of Patanjali Foods. On Thursday, the Patanjali Foods share price closed at ₹1,931.35, just below its 52-week high of ₹1,992.20.

PATANJALI FOODS LIMITED

Trade

1664.25-35.80 (-2.10 %)

Updated - 03 October 2024
1695.00day high
DAY HIGH
1650.05day low
DAY LOW
572668
VOLUME (BSE)

Patanjali Foods’ financial strength

Patanjali Foods, a key firm within the group, has been showcasing strong financial performance, which likely bolstered the decision to sell a minority stake. For the first quarter ending June 30, 2024, the company reported an impressive 199.43% year-on-year jump in net profit, reaching ₹262.9 crore. However, its revenue from operations fell by 7.6% to ₹7,173 crore compared to the previous fiscal’s corresponding quarter, which posted a revenue of ₹7,767 crore. This mixed financial performance underscores the company's ability to manage profitability despite operational challenges.

Strategic acquisitions driving growth

Patanjali Foods has continued to expand its operations through strategic acquisitions. In 2019, it acquired Ruchi Soya Industries for ₹4,350 crore, significantly boosting its presence in the edible oils and food products market. Furthermore, in July 2024, Patanjali Foods announced its acquisition of Patanjali Ayurved’s non-food business for ₹1,100 crore. This deal includes home and personal care segments such as dental care, skincare, and haircare products, further diversifying its portfolio.

Market outlook for Patanjali Foods

The block trade at ₹1,815 per share suggests that the Patanjali Group is keen to capitalise on the strong performance of Patanjali Foods. While the floor price is set below the current market value, the move could be seen as a step to enhance liquidity in the market, providing an opportunity for new investors to buy into the company at a discounted rate. The Patanjali Foods share price remains a key indicator of market sentiment as it approaches its 52-week high.

The Patanjali Group’s block trade is a significant move, reflecting confidence in the company’s future growth potential. The group continues to focus on expanding its business through strategic acquisitions, driving overall performance despite occasional revenue fluctuations.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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