Ruchi Soya jumps over 8% after listing of FPO shares

The stock of Ruchi Soya Industries on Friday jumped over 8 per cent after listing of shares of the company pursuant to the Follow on Public Offer (FPO).

The stock jumped 7.77 per cent to Rs 882.55 on the BSE.

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At the NSE, it gained 8.23 per cent to Rs 885.

According to a BSE notice dated April 7 (Thursday), 6,61,53,846 equity shares of Rs 2 each fully paid up of Ruchi Soya Industries Limited are listed and admitted for trading on the exchange with effect from Friday, April 08, 2022.

On Tuesday, the company had informed stock exchanges that it has approved the allotment of 6,61,53,846 equity shares for an amount aggregating to Rs 4,300 crore pursuant to the FPO.

The company had fixed the FPO issue price at Rs 650 per share.

The issue was open from March 24 to 28.

However, in a rare move, Sebi, on March 28, had asked bankers of Ramdev-led Patanjali group's Ruchi Soya to give an option to investors in its FPO to withdraw their bids while also cautioning them about the "circulation of unsolicited SMS" about the share sale.

The FPO closed on March 28, and the withdrawal window was open for two days till March 30, as per the Sebi directives.

Nearly 97 lakh bids were withdrawn by FPO investors after markets watchdog Sebi directed Ruchi Soya to give investors the option to withdraw their bids, sources had said on March 31. PTI