Mumbai, March 28: The follow-on public offer (FPO) of Yoga guru Baba Ramdev-led Ruchi Soya Industries, to raise Rs 4300 crore, has been subscribed 3.6 times on the final day of bidding. The company, one of the leading fast-moving consumer goods (FMCG) brands, received bids of over 17.60 crore shares against the issue size of 4.63 crore equity shares. The price band for the issue, which opened on March 24 and closed today, was fixed at Rs 615 to Rs 650 per share. The portion reserved for retail investors, which comprised 35 per cent of the issue, was subscribed 0.95 times, data shared by Axis Capital showed. Of the total issue, 50 per cent of the issue was reserved for qualified institutional buyers (QIB) and 15 per cent for non-institutional buyers. The quota for QIB was subscribed 2.33 times while the NII portion was subscribed 12.42 times, the data showed. Ruchi Soya has already raised Rs 1,290 crore through anchor book. The company plans to utilize the proceeds of the issue to repay the debts. In 2019, Baba Ramdev led Patanjali to acquire Ruchi Soya for Rs 4,350 crore under the IBC. (UNI)
Comments are closed.