Edible oil firm Ruchi Soya, which is owned by Baba Ramdev-led Patanjali, will hit the market with its follow-on public offer (FPO) on Thursday, March 24, 2022 to raise up to Rs 4,300 crore, and conclude on March 28.
Shares of Ruchi Soya were down 9% in Monday's trade at Rs 914.90 after the company fixed the floor price of FPO at a discount from Thursday's closing price. The floor price has been fixed at a price band at Rs 615 to Rs 650 per share for its follow-on public offer. The higher end of the price band – Rs 650 a share – represents a 35 per cent discount from Thursday’s closing price, while at the lower end it is a discount of 39%. The firm said the minimum bid will be for 21 shares and in its multiples thereafter. The shares will be credited on April 5 and their trading will start a day after. Refunds will initiate on April 4.
