Baba Ramdev-led Ruchi Soya Industries’ follow-on public offer (FPO) has received 3.6x subscriptions on the last day of bidding. The company received bids for 17.56 crore equity shares against the issue size of 4.89 crore equity shares.
retail quota of Ruchi Soya’s FPO This comprises 35 per cent of the issue, which is subscribed by 88 per cent. 50 per cent of the issue was reserved for Qualified Institutional Buyers (QIBs) and 15 per cent for non-institutional buyers.
Qualified institutional buyers’ quota was oversubscribed 2.2 times, while non-institutional buyers’ quota was subscribed 11.75 times.
Bids have been received for 78,708 equity shares out of the total 10,000 shares reserved for employees of the company.
Ruchi Soya FPO Target Raising 4,300 crore through the FPO route. already picked up 1,290 crore through Anchor Book. The price band of the issue opened on March 24 and closed today from 615 650 per share.
Ruchi Soya was subscribed 12 per cent on the first day of the issue and 30 per cent subscribed to the issue on the second day.
Read also: Ruchi Soya FPO Price At Discount
About Ruchi Soya :-
Ruchi Soya is one of the leading fast-moving consumer goods (FMCG) brands in the Indian edible oil sector and one of the largest manufacturers of soy foods. Ruchi Soya is going to do FPO to reduce the stake of its promoters in the company.
Ruchi Soya plans to use 3,300 crore to repay the loan. Patanjali acquires Ruchi Soya 4,350 crore in 2019 through an insolvency process. At present, Patanjali Group holds about 98.9% stake in Ruchi Soya.
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