Ruchi Soya FPO Subscribed 3.6 Times On Final Day
At Ruchi Soya Industries’ FPO, a majority of subscribers were non-institutional investors who subscribed 11.75 times
The Patanjali Group-owned Ruchi Soya Industries Ltd.’s Rs 4,300 follow-on public offer was subscribed 3.6 times on the final day.
The edible oil maker's FPO was oversubscribed as it garnered bids for 17.60 crore equity shares against the 4.89 crore shares on offer, according to data on the BSE. The company is raising capital via fresh equity to prepay debt.
Non-institutional investors' portion was subscribed 11.75 times, while the shares set aside for retail investors were subscribed 0.9 times, according to its exchange filing. The allocation for qualified institutional buyers was subscribed 2.20 times, while employees bid for 7.76 times the shares on offer for them.
Ahead of the FPO, Ruchi Soya, which entered the food and nutraceutical segment through acquisition of assets from its parent Patanjali last year,
raised Rs 1,289.8 crore through anchor investors.
The company allotted 1.98 crore shares to 46 anchor investors at Rs 650 apiece, and 41.91 lakh shares to four domestic mutual funds through schemes on March 23, according to the data on the BSE.