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Ruchi Soya has lodged an FIR with Haridwar police against the circulation of unsolicited SMSes advertising the company’s ₹4,300 crore follow-on public offer (FPO), it announced in a public note.
“We understand that there is a SMS/message in circulation in social media, speculating about investment opportunity in our company’s Issue and about equity shares of our company being available at discount to the market price (“Message”). We wish to bring to attention of the investors that this Message has not been issued by our company or any of our Directors, Promoters, Promoter Group or Group Companies,” it informed the exchanges on Monday.
“A first information report bearing No. 0188 dated March 27, 2022 (“FIR”) has been lodged by our Company with a police station at Haridwar to take up investigation in respect to circulation of the Message, under Section 67A of the Information Technology Act, 2000 and section 420 of the Indian Penal Code, 1860,” it said.
The announcement comes as market regulator SEBI has directed Ruchi Soya to give an option to investors, who participated in its follow-on public offer (FPO), to withdraw their bids owing to the circulation of unsolicited SMSes for advertising the FPO and luring investors.
“As directed by SEBI, we wish to bring to attention of the investors that all Bidders (other than Anchor Investors), have an option to withdraw their Bids from March 28, 2022, till March 30, 2022,” the company said in its note.
SEBI has told the three investment bankers, who were handling the FPO, that prima facie the contents of the SMSes appear to be misleading/fraudulent and not in consonance with the ICDR (Issue of Capital and Disclosure Requirements) Regulations. The SMS lured people to invest in the FPO by giving share price projections, brokers said.
“All investors/bidders (except anchor book participants) shall be given an option to withdraw their bids. The window for withdrawal shall be available on March 28, 29 and 30, 2022. The procedure for withdrawal shall be informed to investors and form part of the advertisement being issued,” SEBI said.
At 10 am on Tuesday, the share of Ruchi Soya was trading at ₹922.90 on the BSE, up ₹107.85 or 13.23 per cent.
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