Ruchi Soya FPO: Ruchi Soya Industries, a Patanjali Ayurved-invested FMCG company, has raised around Rs 1,290 crore from 46 anchor investors on Wednesday, March 23, a day before the opening of its follow-on public offering (FPO). The FPO of Ruchi Soya will open for the rest of the investors on Thursday, March 24.
The company, in a communication sent to BSE, said that it has allotted 1.98 crore equity shares to 46 anchor investors at a price of Rs 650 per share in the upper price band of the FPO. Of these, 41.91 lakh shares have been allotted to 4 domestic mutual funds, which have invested through 24 schemes.
Investors who participated in this anchor round include Aditya Birla Sun Life Trustee, AG Dynamics Funds, Alchemy India, ASK MF, Authm Investment, Belgrave Investment Fund, BNP Paribas Arbitrage, Coation MK Best Ideas, HDFC Life Insurance, Kotak MF, JJ Trust, Quant MF, SBI Life Insurance, Societe Generale, UPS Group Trust, UTI Mutual Funds, Vorado Venture Partners and Winro Commercial among others.
The price band of Ruchi Soya’s FPO has been fixed at Rs 615-650 per share. Investors can bid for it till March 28. The bidding for the FPO can be done in lots of 21 shares.
Patanjali’s investment company Ruchi Soya will offer equity shares of Rs 2 face value of Rs 4,300 crore under the FPO. About 10,000 shares will also be reserved for eligible employees for subscription in this issue.
Ruchi Soya first started manufacturing soy food in India in 1980 under the Nutrela brand. With the acquisition by Patanjali Group, Ruchi Soya will benefit from Patanjali’s extensive network in India. This will further strengthen the company’s penetration.