Patanjali Ayurveda-backed edible oil company Ruchi Soya Industries will launch its Follow-on Public Offer (FPO) to raise funds up to Rs 4300 crore through capital markets. The shares of the company on Monday slipped over 9 per cent to Rs 910 per share on the BSE.  

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

See Zee Business Live TV Streaming Below:

Exclusive conversation with Swami Ramdev on RUCHI SOYA's FPO | Zee Business

* The remaining 6-7 per cent, to meet the mandatory 25 per cent public float, will be diluted before the Securities and Exchange Board of India (SEBI) deadline of December 2022, the company had said. 

* The management had said that the company will pay back Rs 3,300 crore of debt of the issuer and the rest will go for various corporate purposes. 

*Since the takeover in 2019, the Patanjali group had turned Ruchi Soya from a commodities player into a brand and mulling to bring all its food and non-food products into separate verticals. 

* The management’s endeavour is to make both Ruchi Soya and Patanjali global food brands, going forward. 

* The company had received SEBI's go-ahead to launch the FPO in August 2021. Ruchi Soya had filed the draft red herring prospectus (DRHP) in June 2021. 

* Ruchi Soya primarily operates in the business of processing oilseeds, refining crude edible oil for use as cooking oil, manufacturing soya products, and value-added products. 

* The company has an integrated value chain in palm and soya segments, having a farm-to-fork business model. It has brands such as Mahakosh, Sunrich, Ruchi Gold and Nutrela. 

(With PTI Inputs)