Ruchi Soya FPO: After approval from its board of directors, Ruchi Soya has filed Red Herring Prospectus (RHP) For its follow-on public offering (FPO). FPO aims to raise 4300 after disinvestment of around 17 per cent stake in its promoter company Patanjali. At present, Patanjali holds about 98.90 per cent stake in the company and has to reduce 75 per cent stake in Ruchi Soya. So, Ruchi Soya IPO is a step ahead towards launch. The FPO will open on 24 March 2022 and will be open for bidding till 28 March 2022. Post this public issue, the public stake in the company is expected to increase from 1.10 per cent to about 19 per cent.
Here we list down important details regarding Ruchi Soya FPO:
– Ruchi Soya FPO Date: The follow-on public offer will open on 24 March 2022 and will be open for subscription till 28 March 2022.
– Ruchi Soya FPO Price: The Patanjali promoter group company is yet to finalize the price band for the FPO. It is expected to announce the Ruchi Soya FPO price band next week.
– Ruchi Soya FPO Size: The company aims to raise 4300 crores from its follow-on public offer.
– Ruchi Soya IPO Registrar: Link Intime India Private Limited has been appointed as the Official Registrar of FPOs.
– Offers for Retail Investors: 35 per cent of the FPOs have been reserved for retail investors.
– Principal Manager of Ruchi Soya FPO: Axis Capital Limited, ICICI Securities Limited and SBI Capital Markets Limited have been entrusted with the work of Lead Managers for the FPO.
– Ruchi Soya FPO Listing: The issue is proposed to be listed on both NSE and BSE.
– Ruchi Soya FPO: Subscribe or not?
giving the tag of ‘membership’ to Ruchi Soya FPOs; Anuj Gupta, Vice President, IIFL Securities said, “Ruchi Soya is a leader in edible oil manufacturing in India. As India imports edible oil due to continuous increase in demand, its business volume is expected to move northwards in the times to come. It is expected. Lower middle to upper middle class in a wide manner. Hence, it is catering to a larger section of the society as compared to its peers. I would recommend to subscribe to this FPO as it is a must-have for an investor. Going to be a profitable investment long term.”
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About Ruchi Soya
Ruchi Soya is a diversified FMCG and FMHG focused company, with strategically located manufacturing facilities and renowned brands having pan India presence. It is one of the largest FMCG companies in the Indian edible oil sector and one of the largest integrated edible oil refining companies in India.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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