Rs 4,300 crore will be received from Ruchi Soya’s FPO, what will Baba Ramdev do with this money? Learn

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new Delhi. Ruchi Soya, controlled by Patanjali Ayurved Group and owned by yoga guru Baba Ramdev, has fixed its follow on public offering (FPO) price at Rs 4,300 crore per share at Rs 615-650. This FPO will open from 24 to 28 and will close on 28 March. With the arrival of this FPO this week, the country’s largest edible oil producer will be listed again in the market after the bankruptcy process.

In an interview to CNBC-TV18, Baba Ramdev said that he was asked to sell 50 per cent equity of the company by December. The money received from this FPO will be used to make Ruchi Soya debt free. The upper price band price of Rs 650 for this FPO is well below its yesterday’s closing price of Tuesday. On Tuesday, Ruchi Soya closed at Rs 913.60.

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21 shares will be bid
The company has said that the bid for this FPO will be for 21 shares. After that it will be invested in multiples of 21. The funds received from the FPO will be used to repay the outstanding debt of the company. Along with this, this money will also be used to meet the working capital requirements of the company and for other activities.

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Shares will be credited on April 5
According to the draft paper of this FPO, there will be credit in the shares on April 5 and trading will start a day after that. The refund process will start from April 4.

Ruchi Soya first started manufacturing soya food in India in 1980 under the Nutrella brand. With the acquisition by Patanjali Group, Ruchi Soya will benefit from Patanjali’s extensive network in India. This will further strengthen the company’s penetration.

Tags: Baba Ramdev, Patanjali Ruchi Soya

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