Ruchi Soya FPO: Here’s how you can check the allotment status
Ruchi Soyais likely to announce its share allotment status today.
- The company is one of the leading fast-moving consumer goods (FMCG) brands in India.
- The FPO will be listed on April 8 on exchanges.
AdvertisementThe fast moving consumer goods (FMCG) company Ruchi Soya Industries — a subsidiary of the Patanjali Group, is likely to announce the allotment status of its follow-on public offering (FPO) today, April 5.
The FPO was open for subscription from March 24 to March 28.
In the three days of subscription, the follow-on public offer (FPO) was subscribed 3.6 times by investors. However, the firm got caught in a tangle with markets regulator Securities and Exchange Board of India (SEBI), wherein the regulator had allowed investors to withdraw their bids from Ruchi Soya’s FPO.
Reportedly during this period, the subscription fell from 3.6 times to 3.4 times. A total of 14,583 applications made in the FPO were cancelled.
The company came up with FPO to pay off huge debt and thereby cutting promoter shareholding in the company in compliance with 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 FPO is ₹615-650 per share.
Moreover, the grey market premium of the company’s shares showed a premium of ₹25 from the higher end of the price band.
The company is one of the leading FMCG brands in the Indian edible oil sector and also one of the largest manufacturers of soya foods.
Here is how to Ruchi Soya FPO allotment status on stock exchange website:
- Go to the BSE website or NSE website here.
- On BSE, Select 'Equity' and then from the dropdown, select ‘Ruchi Soya’.
- Now, enter your application number and PAN.
- Click on 'Search'.
- Please note the details will only be available once the shares are allotted.
- Visit the registrar's website here.
- Click on 'Select company' and click on ‘Ruchi Soya’.
- Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.
- Enter the captcha and click ’submit’.
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