Patanjali OFS retail portion sees strong demand from retail investors

The offer of Patanjali Foods for Sale (OFS) has witnessed strong demand from retail investors owing to the attractive discount on the secondary market price. The retail share saw 7.6 million requests, 3 times the 2.53 million offered. A day earlier, the institutional investor portion of OFS had nearly doubled in subscription. Shares of Patanjali Foods on Friday rose 5 per cent to close at Rs 1,225. The base price of OFS is set at Rs 1,000. Most of the bids came from retail investors at around Rs 1,107 per share. Despite the strong demand, promoter Patanjali Ayurved has decided not to exercise the Greenhoe option and will only sell 7 per cent. After OFS, the company will become compliant with the public shareholding standard of 25 percent.