SEBI has given time from March 28 to 30 for retail investors investing in Ruchi Soya FPO to withdraw their bids.
Retail investors, who have invested in Rs 4,300 crore follow-on-offer (FPO) of Ruchi Soya Industries Limited, have been given time by market regulator SEBI from March 28 to 30 to withdraw their bids. March 28 was the last day to subscribe to the FPO of Ruchi Soya. The issue was subscribed 3.6 times till the last day. In the first two days, the issue of the company did not get a very good response from the investors.
SEBI has taken a historic decision for this Ruchi Soya FPO, SEBI takes such decisions on a very rare occasion. In fact, market regulator SEBI has found that some misleading and tempting messages have been sent to the users of Patanjali Ayurved Limited to invest in this issue. After this the market regulator has given this rare opportunity to withdraw the bid for the interest of the investors.
According to a Livemint report, The unwanted message sent to Patanjali users read, “There is a great news for all the dear members of the Patanjali family. Follow-on offer (FPO) of Patanjali Group company Ruchi Soya Industries Limited to retail investors.” The issue will close on March 28. The issue is available at Rs.615-650 per share, which is 30 per cent lower than the market price. You can buy the shares from your DMAT account at the bank/broker/s. You can invest through ASBA/UPI. (Ruchi Soya lodges FIR against unsolicited SMSes asking for investment in FPO)
SEBI has directed leading banking managers to put advertisements in newspapers on Tuesday and Wednesday, cautioning all investors against such unwanted SMS. Ruchi Soya last week launched an FPO of Rs 4,300 crore to make the company completely debt-free and meet the shareholding norms of SEBI.
The Last day Ruchi Soya FPO Subscrition Status :
The company got 88 per cent bids from retail investors. Whereas, the share of Qualified Institution Investors (QIBs) filled 2.2 times. The highest bid of 11.75 times was received by the company in the quota of Non-Institutional Investors (NII).
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