According to block deals data available with the exchanges, Fidelity bought a combined stake of 0.32% or 11.82 lakh shares. The transaction was done at a weighted average price of Rs 1,155 apiece.
Further, two other foreign investors Florida Retirement System and FGTEBP Fiam have also picked up shares in the company, bulk deals data showed.
The sellers included Optimix Wholesale Global, Sudha Commercial Company, and Seamec, among others. The block deal transactions were done on both exchanges.
The company is a majority promoter owned with an 80.82% stake, while public shareholders have the rest 19.18%. According to Sebi regulations, public holding needs to be increased to at least 25%.
Patanjali Foods launched an OFS, under which the promoter Patanjali Ayurved proposed to sell a 7% stake and an additional 2% in the case of oversubscription.
However, following a strong response, the company decided to cancel the oversubscription option. Patanjali Ayurved has about 39.37% stake in the company, as of the June quarter.While the non-retail portion of the OFS was subscribed 200%, the retail portion too garnered a big response with a 301.2% subscription rate. The OFS was overall subscribed 307.5% at the close on Friday.
As the offer opened for retail investors today, the shares of the company were locked in the 5% upper circuit at Rs 1,225.
The floor price for the offer has been fixed at Rs 1,000, an 18% discount on Wednesday’s closing price of Rs 1,228.
As per Trendlyne data, the average target price of the stock is Rs 1,405, an upside potential of 15% from the current market prices. The consensus recommendation from one analyst for the stock is a ‘Strong Buy’.
