Ruchi Soya's follow-on public offering (FPO) was 3.6 times subscribed on the last day of the issue today. On the final day, the FPO received offers for 17.56 crore equity shares, compared to 4.89 crore equity shares. The retail quota, which accounts for 35 percent of the issue, received an 88 percent subscription rate.
Half of the offer was reserved for qualified institutional buyers, with the remaining 15 percent reserved for non-institutional investors. Their portions drew 2.2 and 11.75 times the number of bids, respectively. Employees bid on 78,708 equity shares out of a total of 10,000 available for them.
Out of the total fundraising goal of Rs 4,300 crore, the Patanjali-backed company had already raised Rs 1,290 crore through the anchor book.
On March 24, the oil and food goods conglomerate began its FPO with a target of Rs 4,300 crore. For the public offering, the business set a price range of Rs 615-650. Meanwhile, Ruchi Soya's stock fell 5.96 percent to Rs 815.05 on the BSE on Monday. On the BSE, the stock dropped to an intraday low of Rs 783.45, a 9.61 percent drop.
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