Patanjali’s Ruchi Soya files for ₹4,300 crore FPO
The Hindu
50% of the issue size will be on offer to Qualified Institutional Buyers, 15% to Non-Institutional investors and 35% to Retail Individual Investors.
Ruchi Soya Industries Ltd., part of Baba Ramdev co-founded Patanjali Group, has filed it’s draft papers with SEBI to raise upto ₹4,300 crore via a further public offering (FPO) by way of a pure fresh issue. In 2017, Ruchi Soya, with over ₹12,000 crore debt, was dragged into Insolvency & Bankruptcy Code(IBC) proceedings. In 2019, the Patanjali Group acquired it for ₹4,350 crore through the National Company Law Tribunal (NCLT) resolution process. Currently it is a major FMCG and integrated edible oil refining companies in the edible oil sector. In terms of palm plantation allocations, it is one of the largest player having 2,55,207 hectares of potential land under development spread across 9 States, the filing said.
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