Ruchi Soya FPO: Ruchi Soya’s FPO will open on March 24, price band fixed at Rs 615-650

The FPO of Ruchi Soya, an edible oil company owned by Patanjali Ayurved, led by yoga guru Baba Ramdev, is about to come. Meanwhile, the company has fixed a price band of Rs 615-650 per share for its FPO. Its floor price will be Rs 615 while the cap price will be Rs 650.

Plans to raise up to Rs 4,300 crore
The company will bring its follow on public offer i.e. FPO on March 24, through which it plans to raise up to Rs 4,300 crore. This FPO will close on March 28. The company has said that the minimum bid lot will be of 21 shares followed by a multiple of 21 equity shares.

According to the Red Herring Prospectus (RHP), the shares will be credited on April 5 and trading will start a day later. Refund will start from 4th April

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.

Promoters currently hold about 99 percent stake
The promoters of the company currently hold about 99 per cent stake. The company has to sell at least 9 percent stake in this round of FPO. According to the rules of market regulator SEBI, there should be at least 25 percent public stake in the company, promoters have about three years to reduce their stake to 75 percent.

SEBI had asked why the violation of rules
Recently, during a yoga session on Aastha TV channel, a clip of Ramdev urging viewers to invest in Ruchi Soya stock went viral. SEBI asked Ruchi Soya to explain why the yoga guru violated the rules.