Patanjali Foods Ltd., at the conclusion of its board meeting on Thursday, July 17, announced its first ever bonus issue of shares for its shareholders.The company will issue shares in the 2:1 ratio, it said in an exchange filing. This means that shareholders will be eligible to receive two bonus shares for every one share that they own as on the record date.
Record date for the bonus issue is yet to be declared.
Patanjali Foods, the erstwhile Ruchi Soya, was acquired by Patanjali Ayurved in 2019 through the insolvency process. The acquisition was done at a total consideration of ₹4,350 crore.Back in 2022, the company had also floated a Follow-on Public Offer (FPO) of Ruchi Soya, to raise ₹4,300 crore. Most of the proceeds were used to retire Ruchi Soya’s existing debt.
Record date for the bonus issue is yet to be declared.
Patanjali Foods, the erstwhile Ruchi Soya, was acquired by Patanjali Ayurved in 2019 through the insolvency process. The acquisition was done at a total consideration of ₹4,350 crore.Back in 2022, the company had also floated a Follow-on Public Offer (FPO) of Ruchi Soya, to raise ₹4,300 crore. Most of the proceeds were used to retire Ruchi Soya’s existing debt.
Patanjali Foods has earlier paid an interim dividend of ₹8 per share and ₹6 per share in November and March 2024 respectively, along with a final dividend of 6 in September 2023, and a dividend of ₹5 in September 2022.
Shares of Patanjali Foods, having gained 11% in the last five trading sessions, are off the highs of the day post the bonus issue announcement, trading little changed at ₹1,864.3. The recent upmove has ensured that the stock has turned positive on a year-to-date basis.
