Ruchi Soya FPO: ₹4300 crore issue to open on March 24
- Ruchi Soya FPO size: The company aims to raise ₹4300 crore from its Follow-on Public Offer
Ruchi Soya FPO: After the approval from its board of director, Ruchi Soya has filed Red Herring Prospectus (RHP) for its Follow-on Public Offer (FPO). The FPO aims to raise ₹4300 after divestment of near 17 per cent stake of its promoter company Patanjali. Currently, Patanajali owns around 98.90 per cent stake in the company and it has to trim its stake in Ruchi Soya at 75 per cent. So, the move is one step ahead towards the launch of Ruchi Soya IPO launch. The FPO will open on 24th March 2022 and it will remain open for bidding till 28th March 2022. After this public issue, public shareholding in the company is expected to jump from 1.10 per cent to around 19 per cent
Here we list out important details in regard to Ruchi Soya FPO:
- Ruchi Soya FPO date: The Follow-on Public Offer will open on 24th March 2022 and it will remain open for subscription till 28th March 2022.
- Ruchi Soya FPO price: The Patanjali promoter group company is yet to finalise price band of the FPO. It is expected to announce Ruchi Soya FPO price band next week.
- Ruchi Soya FPO size: The company aims to raise ₹4300 crore from its Follow-on Public Offer.
- Ruchi Soya IPO registrar: Link Intime India Private Limited has been appointed as official registrar of the FPO.
- Offer for retail investors: 35 per cent of the FPO has been reserved for retail investors.
- Ruchi Soya FPO lead managers: Axis Capital Limited, ICICI Securities Limited and SBI Capital Markets Limited have been entrusted with the lead manager's job for the FPO.
- Ruchi Soya FPO listing: Issue has been proposed to be listed on both NSE and BSE.
- Ruchin Soya FPO: Subscribe or not?
Giving 'subscribe' tag to Ruchi Soya FPO; Anuj Gupta, Vice President at IIFL Securities said, "Ruchi Soya is a pioneer company in edible oil manufacturing in India. As India imports edible oil due to continuous rise in demand, its business volume is expected to grow northward in coming times. It caters to lower middle to upper middle class in an extensive manner. So, it is catering to a larger section of the society in comparison to its peers. I would recommend subscribe to this FPO as it is going to become a profitable investment for an investor in long term."
About Ruchi Soya
Ruchi Soya is a diversified FMCG and FMHG focused company, with strategically located manufacturing facilities and well recognised brands having pan India presence. It is one of the largest FMCG companies in the Indian edible oil sector and one of the largest fully integrated edible oil refining companies in India.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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