Ruchi Soya Industries Limited jumped up on the equity trading markets, landing at Rs. 924.85, after listing its follow-on public offering shares on Friday 8 April 2022. The stocks of the largest manufacturer of edible oil makers even touched a price of Rs. 940, while the initial price of FPO shares stood at Rs. 650. As a result, investors gained over 44% from this.
Here is in-depth information on the listing carried by Ruchi Soya Industries Limited!
The subscription dates for Ruchi Soya Industries Limited FPO were from 24 March 2022 to 28 March 2022. The price band of these shares ranged between Rs. 615 to Rs. 650 apiece, having a minimum lot size of 21 equity shares.
The board of the company provided a green signal for offering 6.6 crore shares as allotment amounting to Rs. 4,300 crores. The company received 3.6 times of subscriptions against its FPO in the end.
The proceedings of IBC and Patanjali acquired Ruchi Soya Industries Limited. The current shareholding of promoters, i.e., after the follow-on public offering, stands at 80.8%, which earlier was 98.9%. It is offering this 6% to meet the public shareholding norms set by SEBI (Securities and Exchange Board of India).
According to the norm, every listed company must have 25% of the public shareholding. After the FPO, SEBI even asked Ruchi Soya Industries Limited to offer its investors an option to withdraw their bids after getting influenced by unsolicited SMSes. According to SEBI, these messages were misleading and fraudulent and did not comply with its regulation terms.
From what analysts have noticed and opined, Ruchi Soya Industries Limited is showing a significant performance, gaining 13% after listing its FPO shares. The investors who had put their bid on the shares have already made a remarkable profit and can continue to benefit more.
So, those individuals planning to invest in profitable shares can look for Ruchi Soya‘s shares. If they choose to invest after carrying out a proper research, they can open their Demat Account through Angel One Platform with minimum effort. Even signing up on the platform is easy. It requires less time and minimum documents.
Disclaimer: This blog is exclusively for educational purposes and does not provide any advice/tips on investment or recommend buying and selling any stock.
We're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
