The FMCG company said that the promoter is going ahead with the base issue of 7% and is not utilising the additional 2% oversubscription option.

The two-day OFS was for a total of 2.53 crore shares at a floor price of Rs 1,000 per share.

In a regulatory filing, the company stated, "We wish to intimate the stock exchanges of our intention not to exercise the oversubscription option. Accordingly, the total offer size will be the base offer size. Consequently, 25,33,964 equity shares would be reserved for allocation to retail Investors, subject to receipt of valid bids, as part of the Offer on 14 July 2023."

The OFS opened on 13 July 2023, which is the T-day, where only non-retail investors can bid for the shares. On 14 July 2023, which is the T+1 day, the OFS will be accessible for retail investors and those non-retail investors, who choose to carry forward their un-allotted bids from T day.

On Day 1, which is the T day, the non-retail portion of the OFS was subscribed 200%.

On Day 2 (T+1 day), as on 11:45 IST, the OFS received total subscription for 10,36,673 shares. It was subscribed 38.16% on the offer size of 2,53,39,640 shares.

Non Retail portion was subscribed 3.48% on the base non-retail offer size of 2,28,05,676 shares. Retail portion was subscribed 37.43% on the base retail offer size of 25,33,964 shares.

Currently, the public shareholding in Patanjali Foods stands at 19.18%, which needs to be increased to a minimum of 25% as per SEBI norms.

As of 30 June 2023, the Promoter and Promoter Group held 80.8% stake in Patanjali Foods, and Patanjali Ayurved owned 39.37% stake.

Patanjali Foods (formerly known as Ruchi Soya Industries), is a diversified Indian conglomerate with strong focus on Fast Moving Consumer Goods (FMCG) and Fast Moving Health Goods (FMHG) segments.

The FMCG company's net profit rose 12.49% to Rs 263.71 crore on 18.15% increase in revenue from operations to Rs 7,872.92 crore in Q4 FY23 over Q4 FY22.