Ruchi Soya FPO subscribed 11%, retail portion booked 20%

Ruchi Soya Industries FPO

The company's foray into other FMCG and FMHG products include oleochemicals, biscuits, rusks, wheat flour, honey & nutraceuticals, bodes well for its mid to long-term business

The follow-on public offer of Patanjali Ayurved Group-controlled Ruchi Soya Industries was subscribed 11 percent

The offer size was reduced from 6.6 crore shares to 4.89 crore as the FMCG company, backed by yoga guru Ramdev, mopped up Rs 1,290 crore from anchor investors a day earlier.

The portion set aside for retail investors was subscribed 20 percent and non-institutional investors portion subscribed 3 percent.

The company plans to raise Rs 4,300 crore through the offer, the proceeds of which will be used for repaying debt, meeting working capital requirements and general corporate purposes.

Incorporated in 1986, Ruchi Soya, which was acquired by Patanjali group in 2019, is one of India's largest manufacturers of soya foods branded as Nutrela, which has become a household and generic name

It is an integrated player in the edible oil business with a presence across the entire value chain and has the largest palm plantation in India.

It is also in the business of wind-power generation, where the power generated is used for sale and for captive use. It has manufacturing facilities at 23 locations with a pan-India distribution