Ruchi Soya News | Ruchi Soya FPO: Ruchi Soya gets SEBI nod to bring FPO, Baba Ramdev Ruchi Soya Rs 4300 Cr FPO Likely to Launch Next Week
Ruchi Soya gets approval from SEBI to bring in FPO
New Delhi: Ruchi Soya, a subsidiary of Baba Ramdev-led Patanjali Ayurved, has received capital markets regulator SEBI’s nod to raise Rs 4,300 crore through a follow-up public offering (FPO). Listed FPO The entity is being offered to meet the SEBI criteria of minimum 25 per cent public shareholding.
The company filed a draft document with SEBI in June, which got approval on August 14. This has been shown in the latest information released on the website of SEBI. According to the draft document, the company will use the proceeds from the FPO to further its business, pay off certain outstanding loans, meet its growing capital requirements and other general corporate objectives.
Patanjali Ayurved acquired Ruchi Soya in 2019
It is a listed company. Ruchi Soya was acquired by Patanjali for Rs 4,350 crore under insolvency process. Promoters currently hold 99 per cent stake in this and according to sources they will have to sell at least nine per cent of their stake in the current round of FPO. As per SEBI rules, the promoters need to comply with the minimum 25 per cent public shareholding in the company. Ruchi Soya has three years for this.
#Ruchi #Soya #News #Ruchi #Soya #FPO #Ruchi #Soya #SEBI #nod #bring #FPO #Baba #Ramdev #Ruchi #Soya #FPO #Launch #Week