New Delhi. Yoga guru Baba Ramdev-led Patanjali Ayurved-owned edible oil company Ruchi Soya is planning to raise Rs 4,300 crore. For this, the company can bring Follow on Public Issue i.e. FPO (Follow on Public Offer). This FPO can come in the last week of this month.
Let us tell you that Patanjali had acquired Ruchi Soya in the year 2019. Patanjali had acquired Ruchi Soya for Rs 4,350 crore under the bankruptcy process.
Permission was given from SEBI to bring FPO in August last year
In August last year, the company got permission from the country’s market regulator Securities and Exchange Board of India (SEBI) to bring FPO. The company had submitted a draft red herring prospectus i.e. DRHP in this context with the market regulator in June 2021.
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FPO coming for regulatory compulsion
Ruchi Soya is bringing this FPO to meet the rule of minimum 25 percent public shareholding for SEBI listed companies. According to market sources, the company is preparing to bring FPO in the last week of February 2022.
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Ruchi Soya is valued at Rs 24,114 crore
Currently, the valuation of Ruchi Soya is Rs 24,114 crore. When the company had planned to launch an FPO, the valuation was Rs 33,255 crore.
Tags: Baba Ramdev, Patanjali, Patanjali Ayurved Limited, Ramdev, Swami Ramdev
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