Patanjali-Owned Ruchi Soya FPO Listed on Stock Market, Share Price Soars

Baba Ramdev with BSE CEO Ashish Chauhan at the listing ceremony of Ruchi Soya. 

(Photo: Twitter/BSEIndia) 

The follow-on public offering (FPO) of Ruchi Soya Industry Ltd, which is owned by Baba Ramdev's Patanjali Ayurved, was listed in the Indian stock market on Friday, 8 April.

Yoga guru Baba Ramdev and chairman of Patanjali Ayurved Acharya Balkrishna attended the listing ceremony at the BSE.

The FPO opened at Rs 855 per share – a premium of Rs 205 above its issue price.

Later, the stock jumped by nearly 13 percent to reach Rs 924.85 on the BSE. It also reached a high of Rs 940 during the day and closed at Rs 938, PTI reported.

The company had approved the issuance of 6,61,53,846 shares for an aggregated amount of Rs 4,300 crore. The issue was valid from 24-28 March.

'Permit Investors to Withdraw Bid': SEBI

In a rare move, the Securities and Exchange Board of India (SEBI) had on 28 March asked Ruchi Soya to permit investors to withdraw their bids. They also cautioned them about an "unsolicited SMS" that was circulating regarding the sale of their shares.

Hence, while the FPO concluded on 28 March, the withdrawal window was extended to 30 March. Around 97 lakh bids were withdrawn by investors in this regard.

(With inputs from PTI.)