As of March 30, 2022, 14,583 applications for 97.4 lakh shares have been withdrawn, according to data available on the BSE. In this FPO, QIB withdrew 78.6 lakh bids and high priced investors withdrew 13.1 lakh bids.
According to data available on the BSE, foreign investors withdrew most of their bids from the Ruchi Soar follow-on public offer, while high net worth investors and retail investors withdrew slightly.
As of March 30, 2022, 14,583 applications for 97.4 lakh shares have been withdrawn, according to data available on the BSE. In this FPO, QIB withdrew 78.6 lakh bids and high priced investors withdrew 13.1 lakh bids. At the same time, retail investors withdrew bids for 5.7 million shares. As a result of this bid withdrawal, FPO’s total subscriptions dropped from 3.6 times on March 28 to 3.39 times.
We tell you that this FPO problem has been at a critical stage for the last few days. SEBI has directed Ruchi Swa to allow investors to withdraw their application from the company’s follow-on offer. We are aware that SEBI has taken this step following the news that an unsolicited message regarding this issue was coming to the investors stating that “there is great news for all dear members of Patanjali. Family. Ruchi Soya Industries Limited Company’s follow-on offer. (FPO) is open to retail investors. The issue will close on March 28. The issue is available at Rs. 615-650 per share, which is 30 percent less. Can.
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SEBI has directed leading banking managers to place advertisements in newspapers on Tuesdays and Wednesdays, warning all investors against such unwanted SMS. Ruchi Soya last week launched an FPO worth Rs 4,300 crore to completely free the company from debt and meet SEBI’s shareholding rules.
Let us tell you that Ruchi Soya is not in trouble for the first time. In early October 2021, a clip went viral where Baba Ramdev was seen appealing to investors to invest in Ruchi Swat during a yoga session aired on Astha TV. After the video went viral, Sebi sent a letter to Baba Ramdev warning him not to make any suspicious claims of any kind before Ruchi Soar FPO.
We tell you that Ruchi Soya is owned by Patanjali Group. The issue price of FPO of this company of Baba Ramdev has been fixed at Rs. 615-650. The company is one of the largest edible oil companies in the country. After the bankruptcy, Ruchi Soya was delisted from the capital market.
