The proceeds from the issue will be used for furthering the company’s business by repayment of certain outstanding loans and meeting its incremental working capital requirements and other general corporate purposes
Mumbai: Yoga guru Ramdev-backed Ruchi Soya has filed a draft red herring prospectus with Securities and Exchange Board of India to raise ₹4,300 crore via follow on public offer.
The firm said that its 50% of the issue size will be on offer to qualified institutional buyers (QIBs), 15% to non-institutional investors (NIIs) and 35% to retail individual investors (RIIs).
The proceeds from the issue will be used for furthering the company’s business by repayment of certain outstanding loans and meeting its incremental working capital requirements and other general corporate purposes.
As of May 15, 2021, the company had a total outstanding borrowing (fund based and non-fund based) of ₹3,127.35 crore.
For December quarter, the firm reported a revenue of ₹4,465.33 crore against ₹3,971.72 crore a quarter ago. Net profit ₹227.44 crore against ₹126.74 crore last quarter.
SBI Capital Markets Ltd, Axis Capital Ltd and ICICI Securities Ltd are the lead managers to the issue.
Ruchi Soya is the pioneer of soya foods in India under the brand name Nutrela, which Ruchi Soya launched in 1980s.
Patanjali group's acquisition has enabled Ruchi Soya to benefit from the ayurveda firm's pan-India distribution network, significant technical know-how in the FMCG and FMHG sectors in India and group synergies amongst the wider Group.
As on March 2020, its textured soya protein (soya chunks) held 40% market share through India. As on 31 December, 2020, it exported products across brands to 36 countries indicating its global acceptance.
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