Ruchi Soya Share Price fell up to 17 per cent in early trade on Monday. After the company fixed the price band of the FPO, such a huge fall was recorded in the company's stock.
The company has fixed a price band of Rs 615-650 per share for the upcoming follow-on offer (Ruchi Soya Follow-on Public Offer). On Thursday, the company's stock closed at Rs 1,004.45 on the BSE.
The company's stock opened at Rs 831, down 17.27 per cent in early trade on Monday. However, later there was a slight improvement in it. At 09:41 am, the share price of Ruchi Soya was down 11.53 per cent at the level of Rs 888.60 on the BSE.
The stock has gained 33.59 per cent in one year
The stock has seen a jump of 4.13 per cent since this year. At the same time, this stock has gained 33.59 per cent in one year.
The company's market cap decreased. Due to the fall in shares, the company's market cap on BSE came down to Rs 26,235 crore. The stock had climbed up to Rs 1,377 on June 9, 2021.
This is the 52-week high of this stock. On the other hand, on April 22, 2021, this stock had broken down to Rs 619. This is the 52 week low of this stock.
Know about FPO
The company plans to raise Rs 4,300 crore through this follow-on public offer. This FPO will open for subscription on March 24. The last date to subscribe to it is March 28, 2022.
The promoters of Ruchi Soya will reduce their stake through FPO. It is necessary to do this as per SEBI rules. The company had received market regulator SEBI's approval for FPOs in August. The company had submitted the Draft Red Herring Prospectus (DRHP) in June 2021.
Ruchi Soya was acquired by Patanjali in 2019
Patanjali had acquired Ruchi Soya in 2019. The company had acquired this company listed on the stock exchange through an insolvency process. The company sells its products under the brand names Mahakosh, Sunrich, Ruchi Gold and Nutrela.