On Wednesday, Patanjali Foods launched a two-day offer for sale (OFS) by promoter Patanjali Ayurved Limited at a floor price of Rs 1,000 per share, a significant 18.36% drop from its closing price on Wednesday on the BSE of Rs 1,225.According to a stock market filing by Patanjali Foods, the promoter is seeking to sell up to 25,339,640 equity shares with a face value of Rs 2 apiece, or 7% of the entire paid-up equity share capital of the business. In the case of oversubscription, there would be a mechanism to sell an additional maximum of 7,239,897 shares, or 2% of the total paid-up equity share capital. The total number of OFS in such a scenario would be up to 32,579,537 shares 9 percent.As of June 30, Patanjali Ayurved owned 14,25,00,000 shares, or 39.37 percent of Patanjali Foods. In all, the promoter group controlled 29,25,76,299 shares, or 80.82 percent of the corporation, exceeding the minimum public ownership requirements of 75% for promoters.According to Patanjali Foods, the seller is making the offer in order to reach the required minimum public ownership.The OFS will take place in a separate window of the stock exchanges during trading hours, starting at 9:15 am and ending at 3.30 pm (Indian Standard Time) on the same date.On July 13, only non-retail investors will be permitted to submit their offers. Non-retail investors have the option to signal throughout the bid process whether they are ready to carry over their unallotted bids to T+1 day in order to get allocations in the retail category’s undersubscribed part.”Those investors other than retail investors who have placed their bids on T day and have chosen to carry forward their un-allocated bids to T+1 day, shall be allowed to revise their bids on T+1 day as per the SEBI OFS circular,” Patanjali Foods stated.Only retail investors would be allowed to place their bids and revise their bids on T+1 day i.e. July 14.