GQG Partners ups stake in Patanjali Foods by 1.24% for Rs 835 crore

Billionaire Rajiv Jain-backed GQG Partners on Friday hiked its stake in Patanjali Foods by acquiring a 1.24 per cent holding from promoter group entity Patanjali Ayurved Ltd for about Rs 835 crore through an open market transaction.

According to the bulk deal data available on the NSE, US-based asset management firm GQG Partners purchased 45.03 lakh shares or 1.24 per cent stake in edible oil major Patanjali Foods.

The shares were picked up at an average price of Rs 1,854 apiece, taking the deal value to Rs 834.99 crore.

After the latest transaction, GQG Partners' shareholding in Patanjali Foods has increased to 4.43 per cent from 3.19 per cent.

Meanwhile, Patanjali Ayurved Ltd on Friday sold 97.92 lakh shares or 2.71 per cent stake in the company for Rs 1,815 crore, the data showed on the National Stock Exchange (NSE).

The shares were offloaded at an average price of Rs 1,854.08 per piece, taking the deal value to Rs 1,815.67 crore.

After the share sale, the promoter and promote