Last day to subscribe to Ruchi Soya FPO; GMP at ₹30 per share

• Today is the last day to subscribe to Ruchi Soya FPO, a part of the Patanjali Group, that is looking to raise ₹4,300 crore through the FPO.
• The IPO has been subscribed 360% in the first two days of subscription process.
• Shares of the company are commanding a premium of ₹30 in the grey market.

Today, March28, is the last day to subscribe to the follow-on public offer (FPO) of fast moving consumer goods (FMCG) company Ruchi Soya Industries — a subsidiary of the Patanjali Group.

In the first two days of the subscription process, the FPO received decent response from investors as it was oversubscribed by 360%.

Ruchi Soya is going for an FPO to reduce its promoters’ shareholding in the company and increase the shareholdings of the public, which are currently not in sync with the market regulator Securities and Exchange Board of India’s (SEBI) norms.

The company will use the proceeds from the FPO to repay its loans, for working capital needs and general corporate purposes. The price band of the IPO is ₹615-650 per share.
The company is one of the leading fast moving consumer goods (FMCG) brands in the Indian edible oil sector and also one of the largest manufacturers of soya foods.

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