Patanjali Group-owned Ruchi Soya Industries on Thursday launched its follow-on public offering (FPO). The issue will be available for subscription till Monday, March 28, 2022.
The Baba Ramdev-backed edible oil and food products major is eyeing to raise Rs 4,300 crore.
The FPO has a price band of Rs 615-650 per share and before heading into the issue, Ruchi Soya on Wednesday raised nearly Rs 1,290 crore (Rs 12,89,80,49,450) from 46 anchor investors in lieu of 1,98,43,153 equity shares at Rs 650 each, the company said in a filing.
Ruchi Soya Industries on Wednesday said it has raised Rs 1,290 crore from anchor investors ahead of its FPO.
The company offered 1.98 crore equity shares at a price of Rs 650 per equity share to anchor investors on Wednesday.
The company is coming out with the public issue to meet Sebi's norm of minimum public shareholding of 25 per cent in a listed entity.
As per the DRHP, Ruchi Soya will utilise the entire issue proceeds for furthering the company's business by repayment of certain outstanding loans, meeting its incremental working capital requirements and other general corporate purposes.
In 2019, Patanjali Group had acquired the stock exchange-listed company through an insolvency process for Rs 4,350 crore. Currently, it owns 98.9 per cent in Ruchi Soya.