Around 97 lakh bids have been withdrawn from Ruchi Soya Industries after market regulator SEBI gave investors an option to withdraw their bids. However, the company’s follow on public offer (FPO) has been completed.
Let us inform that the FPO of Ruchi Soya Industries is Rs 4,300 crore. Meanwhile, there has been profit-booking in the stock of Ruchi Soya. The share price was at Rs 955.60 on Thursday, which shows a loss of 2.23 per cent. Sebi on Monday cautioned the bankers of Ruchi Soya against the spread of unsolicited SMS regarding sale of shares during the FPO, asking investors to give an option to withdraw their bids.
What are the figures: Sources said the subscription to the offer declined from 3.6x to 3.39x on March 30 from the level of close of offer on March 28. This shows that around 97 lakh bids were withdrawn. He said mainly foreign investors withdrew their bids.
Earlier, the company had told SEBI and stock exchanges that it had come across certain messages on social media about the possibilities of investing in FPOs. In this, there is mention of getting the shares of the company at a price less than the market price.
The company claimed that this message was neither issued by it nor on behalf of its directors, promoters or group companies. In this regard, the company has also lodged an FIR in Haridwar demanding an inquiry.