Give Investors' Option To Withdraw FPO Bids: SEBI To Patanjali's Ruchi Soya Bankers
NDTV
Ruchi Soya: Sebi asked bankers to issue an advertisement in newspapers on Tuesday and Wednesday cautioning investors about the circulation of SMSes
Capital markets regulator SEBI on Monday asked bankers of Baba Ramdev-led Patanjali group's Ruchi Soya to give an option to investors in its ongoing follow-on public offer of shares to withdraw their bids while also cautioning them about "circulation of unsolicited SMS" about the share sale.
The development assumes significance as the share sale was already oversubscribed 3.6 times and withdrawal of bids can have a bearing on the final numbers.
According to a regulatory filing, Ruchi Soya Industries Ltd informed the regulator and stock exchanges that it has come across some messages on social media "speculating" about investment opportunities in the FPO and the company shares being available at discount to the market price.
The company claimed this message has not been issued by it or any of its directors, promoters, promoter group or group companies.
