Yoga guru Ramdev’s Patanjali group arm Ruchi Soya has fixed the issue price of the follow-on public offer (FPO) at Rs 650 per equity share. After this, in the trading of last Friday, investors sold a lot of shares from the company.
How much is the share price: Ruchi Soya’s stock was at Rs 943.55 due to dominance of sell-off. The share price fell by 1.26 per cent as compared to a day earlier. During the business, this fall had gone up to more than 3 percent. Let us inform that on 9 June 2021, the share price was Rs 1,377, which is the highest level of 52 weeks. In this context, the recovery in the share price is yet to come.
When was the FPO launched: Ruchi Soya Limited has fixed the issue price (the share allotment price) for its FPO at Rs 650 per share. Ruchi Soya’s Rs 4,300 crore FPO opened on March 24. The company aims to be debt free. The company’s FPO closed on March 28 and the price range was fixed at Rs 615-650 per share.
The company said that the board of directors has approved the issue price to be fixed at Rs 650 per share. The company has raised Rs 1,290 crore from anchor investors last week.
The Securities and Exchange Board of India (SEBI) had directed Ruchi Soya to give investors an option to withdraw their bids. After this, about 97 lakh bids have been withdrawn by FPO investors.