In the year 2019, yoga guru Ramdev’s Patanjali Group had acquired the bankrupt company Ruchi Soya. After this the company’s shares ran like a rocket and now there is new news about Ruchi Soya.
In fact, the board of Ruchi Soya has approved the red-herring prospectus (RHP) for the follow-on public offer (FPO) of around Rs 4,300 crore. According to the company, the issue will open on March 24 and will close on March 28, 2022.
According to the information received, the amount received from the FPO will be used for furtherance of Ruchi Soya’s business besides repayment of certain outstanding loans and for meeting other general corporate purposes. Let us tell you that Ruchi Soya had filed the Draft Red Herring Prospectus (DRHP) in June 2021. At the same time, in August 2021, Ruchi Soya got capital markets regulator SEBI’s nod to launch an FPO.
Presently, promoters hold around 99 per cent stake in Ruchi Soya. Ruchi Soya can sell at least 9 per cent stake through FPO.
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Nutrela is the brand name of Ruchi Soya, a leader in soy foods in India. It was launched by Ruchi Soya in the 1980s. It also has brands like Mahakosh, Sunrich, Ruchi Gold.
Ruchi Soya stock status: Talking about the stock of Ruchi Soya, the company’s share price closed with a slight increase on Friday. At present, the share price is up by 0.16 per cent at Rs 803.70.