Ruchi Soya FPO allotment announced. How to check

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Ruchi Soya hit the capital market with its follow-on public offer (FPO) on March 24 to raise 4,300 crore as it aims to become a debt-free company. The price band of the issue, that closed on March 28, had been fixed at 615-650 per share.

Patanjali Ayurved-owned Ruchi Soya on Thursday said it has fixed the issue price of its FPO at the upper limit of its price band at 650 per equity share.

The finalization of the allotment of  Ruchi Soya FPO has been announced and bidders can their application status on the BSE website here as well as the registrar Link Intime’s website here. The initiation of refunds (if any, for Anchor Investors)/ unblocking of will be done on or about Wednesday, April 6, 2022.

Credit of the equity shares to depository accounts of allottees to be done on Thursday, April 7, 2022 whereas commencement of trading of the equity shares on the stock exchanges is expected to happen on Friday, April 8, 2022, the company had announced in an exchange filing.

The company had already raised 1,290 crore from anchor investors last week by issuing around 1.98 crore shares. Meanwhile, nearly 97 lakh bids were withdrawn by FPO investors after markets watchdog Sebi directed Ruchi Soya to give investors the option to withdraw their bids, as per a PTI report.

In a rare move, Sebi, on March 28, had asked bankers of Ruchi Soya to give an option to investors in its FPO to withdraw their bids while also cautioning them about the ‘circulation of unsolicited SMS’ about the share sale.

Ruchi Soya came out with the FPO to meet Sebi’s minimum public shareholding norm of 25% in a listed entity. The company said it would utilise the entire issue proceeds for furthering its business by repayment of certain outstanding loans, meeting its incremental working capital requirements and other general corporate purposes.

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