Ruchi Soya, an edible oil company owned by Patanjali Ayurved, led by yoga guru Baba Ramdev, is planning to raise around Rs 4,300 crore. For this, the company will bring Follow on Public Offer ie FPO (Follow on Public Offer). People familiar with the matter indicated that Ruchi Soya is expected to file a red herring prospectus (RHP) for the FPO in the next two weeks.
FPO is coming for regulatory norms
In addition, Ruchi Soya is bringing this FPO to meet the norms of minimum public shareholding for SEBI listed companies. At present, Patanjali Group holds about 98.9 per cent stake in Ruchi Soya. Public shareholders hold around 1.1 per cent stake.
After this FPO, Patanjali Group’s stake in Ruchi Soya will come down to about 81 per cent and Public’s stake will be around 19 per cent. In August last year, the company got permission from the country’s market regulator Securities and Exchange Board of India (SEBI) to bring FPO.
Patanjali had acquired Ruchi Soya in the year 2019
Let us tell you that Patanjali had acquired Ruchi Soya in the year 2019. Patanjali had acquired Ruchi Soya for Rs 4,350 crore under the bankruptcy process.