Markets

IPO Screener: Ruchi Soya public issue closes today

Our Bureau | | Updated on: Mar 28, 2022

Follow-on offer subscribed 0.37 times so far

Today is the last day to subscribe to the ₹4,300-crore follow-on public offer (FPO) of Ruchi Soya Industries. The FPO, which opened on Thursday, has been subscribed 37 per cent so far. The company plans to sell nearly 7 crore shares through the FPO at a price band of ₹615-650.

The offer received bids for about 1..8 crore shares, against the offered 4.89 crore shares (excluding anchor book), according to data available on the bourses.

Staff subscribe heavily

The employee portion was subscribed 3.68 times. The retail investors’ portion was subscribed 0.39 times, while the part set aside for non-institutional investors was subscribed 0.29 times. The qualified institutional buyers’ portion was subscribed 0.41 times. The minimum bid size was fixed at 21 shares.

Anchor investors

The diversified FMCG and health products company garnered ₹1,290 crore from anchor investors on Wednesday. It has allotted 1.98 crore shares to anchor investors at the upper end of the price band of ₹650 a share.

Foreign investors in the anchor book include Societe Generale, BNP Paribas, The Sultanate of Oman — Ministry of Defence Pension Fund, Yas Takaful PJSC (an Abu Dhabi-based insurance company), MK Cohesion, UPS Group and Alchemy.

Domestic investors include ASK Investments, Volrado Ventures, Kotak Mutual Fund, SBI Pension Fund, UTI Mutual Fund, Aditya Birla Sun Life Mutual Fund, Quant Mutual Fund, Winro Commercial, HDFC Life Insurance, SBI Life Insurance and Authum Investments.

FPO proceeds

Ruchi Soya plans to use ₹3,300 crore from the FPO to repay debt. It has reserved 10,000 equity shares for subscription by employees. Baba Ramdev’s Patanjali Group acquired Ruchi Soya in 2019 for ₹4,350 crore through an insolvency process.

Published on March 28, 2022

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