Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
GQG raises India game with 5.96% in Patanjali Foods
Mint Mumbai
|July 18, 2023
Patanjali Foods Ltd on Monday said Rajiv Jain's GQG Partners Llc purchased a 5.96% stake in the company in its offer for sale (OFS), sparking a rally in its shares.
The edible oils and foods company had set a floor price of 1,000 a share to sell 25.3 million shares. On 14 July, GQG Partners purchased the shares at 1,223.35 each for a total of 2,639.4 crore. With this, GQG Partners has become the largest public shareholder of Patanjali Foods.
Following the announcement, shares of Patanjali Foods jumped 2.91% to touch an intraday high of 1,259 before closing slightly lower at 1,223.35.
Patanjali Foods currently has a market capitalization of *45,419.5 crore. Over the past year, its shares have gained 20.3%, against a 23% increase in the broader market index Nifty 50.
Indian-born Rajiv Jain, 55, founded GQG Partners in 2016 after spending over two decades at the Swiss group Vontobel Asset Management. Florida-based GQG Partners is listed in Australia and had $92 billion in assets under management at the end of December last year.
This story is from the July 18, 2023 edition of Mint Mumbai.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Mint Mumbai
Mint Mumbai
Defence signals
The US has approved the sale of Excalibur projectiles and Javelin missile systems to India in a deal valued at about $93 million, according to the US Defense Security Cooperation Agency.
1 min
November 21, 2025
Mint Mumbai
Small loans against property begin to sour for non-banks
Indian lenders are seeing the stress in their microfinance books gradually spread to their secured portfolios as overleveraged customers delay repayments. This comes less than a year after the Reserve Bank of India warned of a spillover.
3 mins
November 21, 2025
Mint Mumbai
LIFE OF VI: HOW INDIA AVERTED A TELCO DUOPOLY
The inside story of how the Centre created a limited legal reopening to prevent Vi's collapse
9 mins
November 21, 2025
Mint Mumbai
Kirin in talks to recast B9, has no plan to sell stake
Japan's Kirin Holdings, among the largest shareholder in B9 Beverages, that operates Bira, is holding joint discussions with stakeholders and creditors of the beer-maker to restructure the existing business including the management and business strategy as the company navigates a funding crunch and employee unrest.
2 mins
November 21, 2025
Mint Mumbai
Cracks are appearing in OpenAI’s dominant facade
THE 21ST-CENTURY tech landscape was built with a winner-takes-all mindset. It started with Microsoft’s Windows monopoly at the end of the 1990s. Since then Alphabet-owned Google has cornered search and Amazon has become the king of e-commerce. Meta, too, has blanketed much of the world with social media—though on November 18th, a judge in Washington, DC, spared it the ignominy of being declared a monopolist.
2 mins
November 21, 2025
Mint Mumbai
DATA RECAP: THE WEEK IN CHARTS
From widening trade gaps caused by US tariff headwinds and surging gold imports, to a rise in the urban unemployment rate in October, shifting consumption patterns in the economy
2 mins
November 21, 2025
Mint Mumbai
Automation hits tech jobs as GCCs dial back on hiring
Automation is beginning to reshape India's tech-hiring landscape, with global capability centres (GCCs) pulling back on routine recruitment-intensifying the slowdown already hitting large staffing firms dependent on information technology (IT) hiring.
2 mins
November 21, 2025
Mint Mumbai
Bluechips lift Street to a 13-month high
Eyes on Q3 earnings as Nifty crosses 26,200, FPIs turn positive
3 mins
November 21, 2025
Mint Mumbai
Delhi's toxic air: Do we have an adaptation plan?
The national capital has seen two citizen-led protests in November over worsening air quality in the region. Doctors have called the winter air pollution in Delhi a public health emergency, urging stringent measures. Mint explores the issue.
2 mins
November 21, 2025
Mint Mumbai
Automation hits tech jobs as GCCs too dial back on hiring
Quess ended last quarter with ₹3,832 crore in revenue, up 5% sequentially.
1 mins
November 21, 2025
Translate
Change font size