Patanjali Foods shares adjust after 2:1 bonus issue
Patanjali Foods went ex-bonus Thursday, issuing two shares for every one held. The stock price adjusted from ₹1,802 to ₹601, sparking confusion as some apps showed a 67% fall. The drop is only notional-market cap remains around ₹65,000 crore. Bonus shares, issued at no cost, expand holdings without diluting value. Promoters hold 36.7%, LIC owns 9.1%.