Business

Patanjali -Backed Soya Ruchi Gets Rs 1,290 Crore From Major Investors


In 2019, Patanjali acquired Ruchi Soya through an insolvency process of Rs 4,350 crore.

New Delhi:

Ruchi Soya Industries on Wednesday said it had raised Rs 1,290 crore from key investors ahead of its follow -up public offering (FPO).

FPO Ruchi Soya Industries, owned by Baba Ramdev -led Patanjali Ayurved, opened public subscriptions on Thursday to raise up to Rs 4,300 crore. The closing date is March 28, 2022.

The company offered 1.98 crore shares of equity at a price of Rs 650 per share of equity to key investors on Wednesday.

Foreign investors, who receive allocations under the main investor division of FPO include Societe Generale, BNP Paribas, The Sultanate of Oman, Ministry of Defense Pension Fund, Yas Takaful PJSC (Abu Dhabi -based insurance company), MK Cohesion, UPS Group and Alkimia.

The company issued a public issue to meet Sebi’s minimum public shareholding norm of 25 per cent in a listed entity.

According to DRHP, Ruchi Soya will use the entire proceeds of the issue to advance the company’s business by repaying certain outstanding loans, meeting additional working capital requirements and other general corporate purposes.

In 2019, Patanjali acquired Ruchi Soya through an insolvency process of Rs 4,350 crore.

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