Patanjali-backed Ruchi Soya’s FPO shares lists at Rs 850 on exchanges, closes 42 per cent premium to issue price
The board of Ruchi Soya decides to clear entire bank borrowings thereby making it a debt free company.
cityairnews
Apr 8, 2022 07:23
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Chennai, April 8, 2022: Patanjali-backed Ruchi Soya Industries Limited, a diversified FMCG and FMHG focused company, with strategically located manufacturing facilities and well-recognised brands having Pan-India presence, FPO shares listed on the BSE at Rs 850, with a premium of Rs 200 over the issue price. The shares of the company at day end closed at Rs 924.85 per share on BSE and at Rs 938 per share on NSE. The follow-on public offering was offered at a lower price band of Rs 615 per share and higher price band of Rs 650 per equity share.
As per BSE, the total quantity traded stood at 30.23 lakh shares with a delivery quantity percentage of 26.01%. Quantity traded and total quantity traded at NSE stood at 4.03 crore shares with a delivery quantity percentage of 29.65%. Total Turnover (BSE+NSE) stood at Rs 3824.22 crore.
Sanjeev Asthana, CEO, said “The board has decided to clear entire bank borrowings of the company thereby making it a debt free company as on date. It covers Term loan from banks, Working Capital borrowing, Bank Guarantees and Letter of Credits”
The issue was opened for subscription from 24 March 2022 to 28 March 2022, and the withdrawal window was open for two days until March 30.
The company informed stock markets on Tuesday that it has approved the allotment of 6,61,53,846 equity shares for a total of Rs 4,300 crore under the FPO. The company's paid-up equity share capital has increased from Rs 59.16 crore to Rs 72.4 crore as a result of the offering.
The FPO comprised of equity shares of face value of Rs 2 each aggregating to Rs 4300 crore. The issue also includes a reservation of up to 10,000 equity shares for subscription by eligible employees.
