Baba Ramdev’s company Ruchi Soya is preparing to bring an FPO of Rs 4300 crore. This information has been given to SEBI on behalf of the company.
Presently the promoter holds 98.90 per cent stake.
Ruchi Soya FPO: You must have heard the name of Baba Ramdev’s company Ruchi Soya. This company is owned by Patanjali Ayurveda. Ruchi Soya has made its investors rich during the Corona period. Now this company is preparing to bring an FPO (follow-on public offer) of Rs 4300 crore. The company has to do this keeping in mind the rules of SEBI.
The promoter holds 98.90 per cent stake in Ruchi Soya while the public has only 1.1 per cent stake. According to SEBI rules, the public shareholding in any listed company is required to be 25 percent. This stock has made its investors rich. It has given excellent returns of 64 per cent in one month, 73 per cent in three months, 40 per cent in one year and 9648 per cent in three years. The closing price of the share this week is Rs 1242.95. The 52-week high is Rs 1519.65 while the lowest level is Rs 403.75.
Story of Ruchi Soya and Baba Ramdev
The real story of Ruchi Soya started in January 2020. Patanjali had acquired this company through the insolvency process. This stock was again listed on the stock market on 27 January 2020 and its price was Rs 17. From 28 January to 18 May 2020, its stock was closing continuously with the upper circuit. Within just four months, the stock closed at Rs 706. After the fall of a few trading sessions, it again started closing rapidly from May 28. On May 28, the share price was Rs 545 and till June 26, it continued to engage in upper circuit and soon its price reached Rs 1519, which is its all-time high price. After that, the stock continued to rise and fall from period to period.
FPO will come within next six months
Talking about the FPO of Ruchi Soya, according to the report, it will be launched within the next six months. The promoters of the company will sell at least 9 per cent stake. On behalf of the company, it was said that the issue committee has approved the collection of funds.
The stake will have to be reduced to 75 percent
As per SEBI listing rules, the promoter’s stake in a company cannot exceed 75 per cent. In such a situation, Ruchi Soya will have to bring down the promoter’s stake to 75 percent within the next three years. This company mainly manufactures edible oil and soybean products. Its major brands are Mahakosh, Sunrich, Ruchi Gold and Nutrela.
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(with PTI input)
