The shares of Baba Ramdev’s Ruchi Soya, with brands like Mahakosh, Sunrich, Ruchi Gold and Nutrila, opened at Rs 831, down 17.27 per cent from the previous close of Rs 1004.45 on the BSE. With this the market cap of the firm fell to Rs 26,235 crore. After a slight correction, the shares of Ruchi Soya are still on the red mark. At present, the share price of Ruchi Soya Industries Limited is trading at Rs 915.40 with a loss of 8.86 percent on NSE.
Ruchi Soya shares fell over 17 per cent in early trade today after the company fixed a price band of Rs 615-650 per share for the upcoming follow-on public offer (FPO). The company said the minimum bid would be for 21 shares and in multiples thereafter. The stock of Ruchi Soya opened at Rs 831, down 17.27 per cent today, against the previous close of Rs 1004.45 on the BSE.
Dividend up to Rs 490 on 1 share, companies are distributing strong profits
The stock was down 8.80 per cent at Rs 916.00 on the NSE at 11:21 pm. However, the stock has gained 4.13 per cent since the beginning of this year and has gained 33.59 per cent in one year. The company’s market cap fell to Rs 26,235 crore on the BSE. The stock was at a 52-week high of Rs 1,377 on June 9, 2021 and a 52-week low of Rs 619 on April 22, 2021. The FPO, through which the company plans to raise Rs 4,300 crore, will open on March 24 and close on March 28. On Thursday, the shares of Ruchi Soya closed at Rs 1,004.45 on the BSE.
Baba Ramdev-led Patanjali Ayurved is the owner of Ruchi Soya. This will help the company to adhere to the minimum shareholding norms through FPOs. In August 2021, the firm had received capital markets regulator SEBI’s nod to launch an FPO. It had filed a draft red herring prospectus (DRHP) in June 2021.
Milk Price: Milk prices increased by Rs 5 per liter, this company increased the price
In 2019, Patanjali bought Ruchi Soya through an insolvency process for Rs 4,350 crore. Ruchi Soya primarily deals in oilseeds processing, refining crude edible oil for use as cooking oil, manufacturing of soya products and business of value added products.