The wait for the follow-on public offer (FPO) of yoga guru Ramdev’s Patanjali group company Ruchi Soya Industries is over. The Rs 4,300-crore FPO of the edible oil major will open on Thursday and close on Monday. Ruchi Soya has fixed a price band of Rs 615-650 for the public offer.
Rs 1290 crore raised from anchor investors: Meanwhile, the company said it has raised Rs 1,290 crore from key investors, including foreigners, before the FPO. Ruchi Soya allotted 1.98 crore equity shares to anchor investors including domestic mutual funds and foreign investors. Among domestic investors, Aditya Birla Sun Life, HDFC Life Insurance, UTI Mutual Fund, SBI Life Insurance got the allotment of shares.
At the same time, foreign investors include Societe Generale, The Sultanate of Oman – Ministry of Defense Pension Fund and Alchemy. Explain that up to 10,000 shares per employee have been reserved for the eligible employees of Ruchi Soya.
Let us tell you that in 2019, Patanjali had bought Ruchi Soya through an insolvency process for Rs 4,350 crore. 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.
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Ruchi Soya stock status: Talking about the stock of Ruchi Soya, the company’s share price closed down 1.71 percent on Wednesday. At present, the share price is Rs 897.45. Now it is important to see how the stock gets response in Thursday’s trading.