Stock Report

Ruchi Soya Industries fixes price band as Rs. 615 to Rs. 650 for FPO

Posted On : 2022-03-20 11:32:03( TIMEZONE : IST )

The further public offering (FPO) issue committee of Ruchi Soya Industries Ltd at its meeting held on March 20, 2022 has approved the price band for the issue.

The committee has fixed the price band of the equity shares of face value of Rs. 2 each of the Company as under:

Floor Price - Rs. 615 per Equity Share
Cap Price - Rs. 650 per Equity Share.

The minimum bid lot shall be 21 and in multiples of 21 Equity Shares thereafter.

The FPO comprises equity shares of face value of Rs 2 each aggregating to Rs 4300 crore. The issue also includes a reservation of up to 10,000 equity shares for subscription by eligible employees. If such placement is completed, the follow-on size will be reduced. The issue will open on March 24 and close on March 28.

As per the DRHP, Ruchi Soya mentions it will utilize the entire issue proceeds for furthering the company's business by repayment of certain outstanding loans, meeting its incremental working capital requirements and other general corporate purposes.

Shares of Ruchi Soya Industries Limited was last trading in BSE at Rs. 1004.45 as compared to the previous close of Rs. 1071.10. The total number of shares traded during the day was 27225 in over 2652 trades.

The stock hit an intraday high of Rs. 1100.00 and intraday low of 951.40. The net turnover during the day was Rs. 28098442.00.