{"id":31064,"date":"2022-03-24T13:29:50","date_gmt":"2022-03-24T07:59:50","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-ruchi-soya-fpo-4\/"},"modified":"2022-03-24T13:31:18","modified_gmt":"2022-03-24T08:01:18","slug":"biz-ruchi-soya-fpo-4","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-ruchi-soya-fpo-4\/","title":{"rendered":"Ruchi Soya hits capital market to raise Rs 4,300 cr; to become debt-free"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3510188118\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>New Delhi, Mar 24 (PTI) Baba Ramdev-led Patanjali Ayurved-owned Ruchi Soya on Thursday hit the capital market to raise Rs 4,300 crore through its follow-on public offer (FPO) as it aims to become a debt-free company.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2055094817\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>The issue closes on March 28. The price band has been fixed at Rs 615 to Rs 650 per share.<\/p>\n<p>Addressing a press conference here, Ramdev said the company has launched its FPO despite volatility in the stock market because of the war between Russia and Ukraine.<\/p>\n<p>He said the company has already raised Rs 1,290 crore from anchor investors on Wednesday and expressed confidence that its FPO would be a huge success as people have faith in its products and brand.<\/p><div class=\"trade-content_5\" id=\"trade-1335945604\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Ramdev said the proceeds of the FPO would be utilised to retire the term loan of Rs 3,300 crore.<\/p>\n<p>&#8220;Ruchi Soya will become debt-free,&#8221; he asserted.<\/p>\n<p>Asked why the price band has been kept lower than the current market prices, Ramdev said this has been done to give a good return to investors.<\/p>\n<p>Ruchi Soya shares closed on Wednesday Rs 897.45 apiece on the BSE.<\/p>\n<p>&#8220;We have turnaround the Ruchi Soya after acquiring it through insolvency proceedings,&#8221; Ramdev said.<\/p>\n<p>He said the company became bankrupt because of the mistakes committed by the previous management.<\/p><div class=\"trade-content-10\" id=\"trade-4072682911\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>&#8220;We are running the company with transparency, accountability and corporate governance,&#8221; he said.<\/p>\n<p>Currently, Patanjali Group owns about 98.9 per cent stake in Ruchi Soya.<\/p>\n<p>Public shareholders own about 1.1 per cent stake.<\/p>\n<p>Post the FPO, Patanjali Group&#8217;s holding in Ruchi Soya will come down to about 81 per cent, and the public will hold about 19 per cent.<\/p>\n<p>The Securities and Exchange Board of India (SEBI) has given the nod for the launch of the\u00a0Ruchi Soya FPO\u00a0in August 2021, after the company filed the draft red herring prospectus (DRHP) in June 2021.<\/p>\n<p>The firm is coming out with the public issue to meet Sebi&#8217;s norm of minimum public shareholding of 25 per cent in a listed entity. It has around three years to pare promoters&#8217; stake to 75 per cent.<\/p>\n<p>Ruchi Soya will use the proceeds from the issue for furthering the company&#8217;s business by repayment of certain outstanding loans, meeting its incremental working capital requirements and other general corporate purposes.<\/p>\n<p>In 2019,\u00a0Patanjali acquired Ruchi Soya, which is listed on the stock exchanges, through an insolvency process for Rs 4,350 crore.<\/p>\n<p>Ruchi Soya primarily operates in the business of processing oilseeds, refining crude edible oil for use as cooking oil, manufacturing soya products and value-added products. The company has an integrated value chain in palm and soya segments, having a farm-to-fork business model.<\/p>\n<p>It has brands like Mahakosh, Sunrich, Ruchi Gold and Nutrela. PTI KRH MJH   BAL BAL<\/p>\n<div class=\"trade-after-content\" id=\"trade-2190999494\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Mar 24 (PTI) Baba Ramdev-led Patanjali Ayurved-owned Ruchi Soya on Thursday hit the capital market to raise Rs 4,300 crore through its follow-on public offer (FPO) as it aims to become a debt-free company. The issue closes on March 28. The price band has been fixed at Rs 615 to Rs 650 per [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1516,31],"tags":[],"class_list":["post-31064","post","type-post","status-publish","format-standard","hentry","category-ipo","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ruchi Soya hits capital market to raise Rs 4,300 cr; to become debt-free - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-ruchi-soya-fpo-4\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ruchi Soya hits capital market to raise Rs 4,300 cr; to become debt-free\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Mar 24 (PTI) Baba Ramdev-led Patanjali Ayurved-owned Ruchi Soya on Thursday hit the capital market to raise Rs 4,300 crore through its follow-on public offer (FPO) as it aims to become a debt-free company. 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