Patanjali Foods Down 5% After BSE, NSE Freeze Promoters' Shares
NDTV
Patanjali, in an exchange filing on Wednesday, said it received a notification from both the BSE, and the National Stock Exchange, informing it about the share freeze.
Shares of India's Patanjali Foods Ltd fell as much as 5% on Thursday, a day after the edible oil maker said the country's stock exchanges froze promoters' shares as they still held a stake of around 80% in the company.
India's markets regulator, the India's Securities and Exchange Board of India (SEBI), mandates the minimum public shareholding in listed companies at 25%.
The stock is down 22.4% year to date.
Patanjali, in an exchange filing on Wednesday, said it received a notification from both the BSE, formerly known as the Bombay Stock Exchange, and the National Stock Exchange, informing it about the share freeze.
