Ruchi Soya FPO to open Thursday, Know price band, lot size and more
Ruchi Soya FPO to open Thursday, Know price band, lot size and more
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Ruchi Soya Industries, a company that makes edible oils and food items, is planning to undertake a follow-on public offering (FPO) on Thursday to raise Rs 4,300 crore. For the public offering, the business has set a price range of Rs 615-650. The deadline for submissions is March 28. Brokerages on Dalal Street assigned the issue a subscribe rating for the IPO and long-term gains.

The company is one of the largest players in the edible oil industry, with a varied product line that includes wheat flour, honey, biscuits, rusks, morning cereals, and noodles, among other things. It is also a major player in the soya industry.

On the FPO, brokerage KR Choksey Shares and Securities is bullish. It feels that Ruchi Soya is benefiting from synergies created by Patanjali's acquisition, which has resulted in positive changes in the company's business model. The company's focus on diversifying its product line beyond oils, as a pioneer in the soya products and edible oil market, would help it emerge as a significant leader in the area.

"Ruchi Soya has concentrated on integrating its activities in order to create a value chain and increase operational efficiency. Furthermore, the majority of the debt will be paid through the FPO proceedings, with the remaining funds assisting the company in meeting its working capital needs," according to KR Choksey in a report.

Ruchi Soya public offer; price band Rs 615-650 apiece for its Rs 4300 cr

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