According to NSE bulk deal data, US-based asset management firm GQG Partners bought 45.03 lakh shares of the edible oil giant at an average price of Rs 1,854 per share, bringing the total deal value to Rs 834.99 crore, reported news agency PTI reported.
Following this transaction, GQG Partners’ stake in Patanjali Foods rose from 3.19% to 4.43%.
On the same day, Patanjali Ayurved Ltd sold 97.92 lakh shares, representing a 2.71% stake in the company, for Rs 1,815 crore at an average price of Rs 1,854.08 per share.
As a result, the promoter group's shareholding in Patanjali Foods decreased from 72.81% to 70.1%, the report said.
Details of other buyers in the transaction remain unknown, according to the report.
Shares of Patanjali Foods dropped by 3.75%, closing at Rs 1,858.90 on the NSE.
GQG Partners, known for its significant investment in the Adani Group, had also increased its stake in GMR Airports Infrastructure to 5.17% last month by purchasing additional shares worth over Rs 433 crore.
Founded in 1986, Patanjali Foods Ltd (formerly Ruchi Soya Industries) is a prominent player in India's FMCG sector, operating in edible oils, food, FMCG, and wind power generation.
The company markets its products under brands such as Patanjali, Ruchi Gold, Mahakosh, and Nutrela. Patanjali Ayurved acquired Ruchi Soya through the insolvency process and later renamed it Patanjali Foods Ltd.