Ruchi Soya Raises ₹1,290 crore

F.M.C.G. company, Ruchi Soya Industries which offers different varieties of products has raised ₹1,290 crores before its much-anticipated follow-on public offering (FPO). This amount has been raised from anchor investors. The Company’s follow-on public offering (FPO) will be open for public subscription on Thursday. A follow-on public offering (FPO) is basically the issuance of additional shares made by a company after an initial public offering (IPO). According to a statement by the company, In this FPO, fresh equity shares will be allotted to investors without any offer for sale component. Ruchi Soya further said the Price band for its FPO has been set between ₹615- ₹650 per equity share. Currently, the popular F.M.C.G. company of India Patanjali Group owns about 98.9 percent equity in Ruchi Soya while public shareholders own about 1.1 percent stake. After the FPO, Patanjali Group's stake in Ruchi Soya will come down to 81% and the public shareholders would hold about 19 percent in the company.