New Delhi: Shares of Ruchi Soya dropped more than 19 per cent during the early trading hours on Wednesday as the company announced the allotment of shares for its follow-on public offering (FPO).
The company board has approved the allotment of 6,61,53,846 equity shares with a face value of Rs 2 each, aggregating to Rs 4,300 crore, it said in a regulatory filing.
The allotment price has been fixed at Rs 650 apiece, the company had announced earlier. Baba Ramdev’s Patanjali Ayurveda led Ruchi Soya plans to utilise the amount raised for paring debt.
On Wednesday, Ruchi Soya stock tumbled about 19 per cent to Rs 706, before recovering to Rs 763 at 9.55 am. The scrip had settled at Rs 875.45 on Tuesday.
BSE Sensex was trading 456.41 points or 0.76 per cent lower at 59,720.09 at the time of writing this report.
Ruchi Soya FPO was open for subscription between March 24-28 as the company sold its shares in the range of Rs 615-650 per share, with a minimum lot size of 21 shares.
After the allotment of equity shares, the paid-up equity share capital of the company stands increased to Rs 72.4 crore from Rs 59.16 crore earlier, the filing added.
The company had already raised Rs 1,290 crore from anchor investors by issuing around 1.98 crore shares at Rs 650 per share.
According to PTI reports, nearly 97 lakh bids were withdrawn by FPO investors after markets watchdog Sebi directed Ruchi Soya to give investors the option to withdraw their bids.
How to check allotment status:
Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Ruchi Soya Industrie Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on ‘I am not a Robot’ and hit submit
You can also check the allotment status on the online portal of Link Intime India Private Limited (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.
The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatch, and uploading of refunds, and attending to all investor-related queries after the issue is completed.
1) Go to the web portal of Link Intime India Private Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalised
3) Enter your PAN number
4) Hit submit
The FPO shares of Ruchi Soya Industries are likely to list on April 8 and they will be credited in the demat accounts of investors on April 7.
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