Ruchi Soya on Sunday announced the price of the floor for the Public Offering (FPO) which was the defeat of RS4.300. The problem is set to open on March 24 and offers will be permitted until March 28, 2022. Through this problem, Swami Ramdev’s Patanjali plans to comply with the minimum market holder rules of the Sebi market regulator.
In a meeting held today, the FPO Ruchi Soya committee decided at the price of RS615 to RS650 per share equity on this issue Furthermore, the committee approved the size of the bits of allotment. The minimum bid will be 21 and in multiples of 21 equity shares afterwards.
Patanjali-supported companies will offer equity shares with RS2 nominal value of ₹ 4,300 crore under the FPO. This problem will also include reservations of around 10,000 equity shares for employees who are eligible to subscribe Through FPO, the company’s promoter strives to reduce their share ownership to comply with sebi guidance. At present, below the direction of Sebi, the minimum requirement for public share ownership in the registered company must be 25%.
At present, Patanjali has 98.9% in Ruchi Soya while public shareholders have 1.1%. Posting FPO, Patanjali share ownership in edible oil manufacturers will decrease to 81% while public share ownership will rise to 19% Net results will be used for certain loan payments, additional working capital requirements, and the purpose of the general company On Monday, Ruchi Soya’s shares will be the focus ahead of the FPO problem. Last week, on Friday, the stock was completed at RS1004.45 each at RS66.65 or 6.22% in BSE.