New Delhi, March 24 : Yoga guru Ramdev-backed FMCG firm Ruchi Soya’s Rs 4,300 crore follow-on public offer (FPO) opened for subscription to the public on Thursday. The price band for the offer has been fixed at Rs 615-650 per equity share. The FPO closes on March 28, 2022. Investors can bid for a minimum of 21 equity shares and in multiples of 21 equity shares thereafter. The FPO issue price is much lower compared to the prevailing share price of the company on the BSE. Ruchi Soya shares were trading 1.69 per cent lower at Rs 882.30 a piece on the BSE on Thursday around 2:10PM. Ruchi Soya has garnered Rs 1,290 crore from anchor investors allocating 19.83 million shares. Among the clutch of foreign investors which participated in the anchor round include Societe Generale, The Sultanate of Oman Ministry of Defence Pension Fund, UPS Group and Alchemy. Domestic investors included Ask Investments, Kotak Mutual Fund, UTI Mutual Fund, Aditya Birla Sun Life Mutual Fund and Quant Mutual Fund. Axis Capital, ICICI Securities and SBI Capital Markets are the book running lead manager for the FPO. Addressing media here on Thursday, Ramdev said that proceeds from the FPO would be first used to make the company debt-free and then it will be invested for growing the company. “From the feedback we got from capital market and equity market experts, we decided in-principle to first make the company debt-free. This will not only instill confidence among investors but also infuse fresh energy among the people to work consistently,” Ramdev said. NK
