Patanjali Foods announces 2:1 bonus share issue
Patanjali Foods is giving its shareholders a sweet deal: for every one share you own, you'll get two more—if shareholders approve it in the upcoming postal ballot.
The board made this call on Thursday, and the official record date is still to come.
Patanjali plans to issue 72.5 crore bonus shares
The company plans to issue about 72.5 crore bonus shares by tapping into its reserves, bumping up its total share count from 36.25 crore to 108.75 crore (all at ₹2 each).
This move is more about sharing the pie.
Bonus issue to attract fresh investors
Shares jumped 11% in the last five trading sessions before the news broke, though they're still down 7% this year despite a solid two-year run.
Patanjali hopes this bonus issue will make trading easier and attract fresh investors.
If you follow market moves or invest in stocks, this is one to watch—especially since Patanjali only took over and rebranded from Ruchi Soya a couple of years ago.