InvestorQ : Can you tell me about the forthcoming Ruchi Soya IPO?
Mahima Roy made post

Can you tell me about the forthcoming Ruchi Soya IPO?

Answer
image
2 months ago
Follow

It is not an IPO but a FPO or follow-on public offer since Ruchi Soya is already a listed company. You must be aware that Ruchi Soya is part of Patanjali Ayurveda group, run by Baba Ramdev and Acharya Balkrishna. Ruchi Soya has priced its FPO in the band of Rs.615 to Rs.650. At the upper end of the price band, the issue size would be approximately Rs.4,300 crore. The issue will open for subscription on 24th March and close on 28th March.

Interestingly, even the higher end of the price band reflects a 35% discount to the closing price. Investors wanting to bid for the IPO can place bids in multiples of 21 shares, which is the minimum IPO lot size. The fresh equity is expected to be listed on 06th April, a day after the demat credits are done. The funds will be used for repayment of debt and to meet working capital expenses. Ruchi soya has been the pioneer of soya foods in India in 1980s.

9 Views