Ruchi Soya FPO: Baba Ramdev’s company Patanjali backed Ruchi Soya’s follow-on public offer (FPO) is opening from next week. This FPO is about Rs 4,300 crore. Ruchi Soya’s FPO will open for subscription on March 24. The last date to subscribe to this issue is March 28. Meanwhile, today Baba Ramdev has announced his ambition to make edible oil company Ruchi Soya a “global brand”. Ramdev said that the company is strengthening itself at the village level in India while also strengthening its global reach.
company shares fell
Selling dominated the shares of Ruchi Soya on the BSE. The company’s shares closed at Rs 910.10, down by Rs 94.35, or 9.39%, today. Shares had reached their highest high of Rs 948.70 and lowest at Rs 831 in the day’s trading.
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Know 8 things about the issue
1. The FPO will open for subscription on Thursday, March 24, 2022 and will close on Monday, March 28, 2022.
2. The company has fixed a price band of ₹ 615 to ₹ 650 per share for its follow-on public offer.
3. Equity shares will be issued in this issue for a total amount of ₹4,300 crore. It has a reserve of 10,000 equity shares for eligible employees.
4. This issue will open for anchor investors on 23 March 2022. Please inform that Ruchi Soya is in consultation with the book running lead managers of this issue.
5. Under the issue, the offer allocation shall not exceed 50% to the eligible institutional buyers. For Non-Institutional Bidders there will be an offer allocation of not more than 15% and for retail investors an offer of less than 35% is available for allotment.
6. Companies like SBI Capital Markets Limited, Axis Capital Limited and ICICI Securities Limited are the Book Running Lead Managers of the issue.
7. At present, Patanjali holds 98.9% stake in Ruchi Soya, while public shareholders hold 1.1%. After the FPO, Patanjali’s stake in the edible oil company will come down to 81 per cent, while the public stake will increase to 19%.
8. 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.
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