Ruchi Soya FPO Last Day: Ruchi Soya Industries FPO has been subscribed 1.4 times so far, as the FPO has received bids for 6.86 crore equity shares against 4.89 crore equity shares on the last day of bidding. The FPO involves issuance of equity shares for a total amount of Rs 4,300 crore. The price band for the offer has been fixed at Rs 615-650 per share.
Ruchi Soya FPO: Subscription Status
So far, the issue has been subscribed 1.35 times and the FPO has raised bids for 66 million equity shares, while its size is equivalent to 48.9 million equity shares. The NSE data shows that the Qualified Institutional Buyer (QIB) segment is subscribed 0.87 per cent, while the High Networth Individual (HNI) segment is subscribed 3.92 per cent, the retail segment 52 per cent and the employee segment 5.53 per cent. .
Ruchi Soya FPO: Price Close
The Patanjali-backed company had already raised Rs 1,290 crore through anchor books out of the total fundraising target of Rs 4,300 crore. The price band for the offer, which opens on March 24, has been fixed at Rs 615-650 per share.
Ruchi Soya FPO: Shares Slip 10 per cent
Shares of Ruchi Soya Industries closed 10 per cent lower at Rs 783.45 on the BSE in intra-day trade on Monday. The Patanjali-backed edible oil company’s stock fell for the fourth consecutive day, down 14 per cent during the period. It has registered a decline of 31 per cent from its high of Rs 1,139.95 touched on March 15, 2022. At 11:07 am, Ruchi Soya was trading 6 per cent lower at Rs 815, compared to a 0.71 per cent decline in the S&P BSE Sensex.
Ruchi Soya FPO: What is a Brokerage?
“The company with upstream and downstream integration is one of the major players in palm oil plantation and has developed an effective strategy for procuring key raw materials required for the business. In addition, the products enjoy strong brand recognition in the Indian market and benefit from a strong, established and wide distribution,” said Aastha Jain, Senior Research Analyst, Hem Securities.
“Ruchi Soya has a strong back-up from the Patanjali Group and we are seeing a turnaround in the company where it has managed to turn profitable. It has a strong product portfolio and is one of the fully integrated edible oil refining companies in India. The stock is trading with a price-to-earnings multiple of 32, which is lower than the industry average,” said Ayush Agarwal, Senior Analyst, Swastika Investmart.
Baba Ramdev-led Patanjali Ayurved holds 98.9 per cent in Ruchi Soya. The FPO is being done to reduce the promoter holding in the company to comply with the minimum public shareholding norms of 25 per cent. After the FPO, Patanjali’s stake will come down to 81 per cent, while the public stake will increase to 19 per cent. Ruchi Soya is primarily engaged in manufacturing and selling of Edible Oils and Soya Products under the brands like Mahakosh, Sunrich and Nutrela.
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