Ruchi Soya FPO: After the allotment of FPO of Baba Ramdev’s Patanjali’s subsidiary Ruchi Soya was finalized yesterday, its shares are seen selling today.
Ruchi Soya FPO: The allotment of FPO of Ruchi Soya, a subsidiary of Baba Ramdev’s company Patanjali, has been finalized yesterday (April 5). After the allotment was finalized, today its shares are showing selling and it slipped by about 19 percent in the early trade. On Tuesday, it closed at Rs 875.45 on BSE and today it opened at a low of Rs 706.00 at the beginning of trading. However, as the business progressed, it recovered and is currently at a price of Rs 775.00.
FPO was subscribed 3.60 times
Ruchi Soya’s FPO of Rs 4,300 crore was open for subscription on March 24-28 and a price band of Rs 615-650 per share was fixed for shares with a face value of Rs 2. The allotment of shares is done at Rs 650 per share. The shares which have been issued through FPO are listed in the market on April 8.
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how to check share allotment
- If you had also applied for Ruchi Soya’s FPO, then you can check its allotment status on the BSE website.
- Visit the BSE site through this link- https://www.bseindia.com/investors/appli_check.aspx
- Select Equity in the Issue Type section
- Select Ruchi Soya from the drop down menu in the issue name.
- Enter Application Number or PAN.
- Next, check the box next to I’m not a robot.
- Then click on Search.
- The status of your application will be known.
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Many investors withdrew bids on SEBI’s action
Ruchi Soya’s FPO faced controversies. SMSs were sent to Patanjali’s customers regarding Ruchi Soya’s FPO, due to which this FPO came under the radar of market regulator SEBI. The promoters of the company said that they had no role in sending these messages. However, SEBI allowed investors to withdraw the bids of the FPO. Foreign portfolio investors (FPIs) withdrew 97 per cent of their bids after the SEBI approval, according to BSE data. Apart from this, high net worth individuals also withdrew 1.1 per cent of their bids, workers withdrew 4.84 per cent and retail investors withdrew 2.6 per cent. However, domestic institutions and mutual funds did not withdraw the bids.