FMCG major Ruchi Soya Industries Limited plans to raise Rs 4,300 crore through follow-on public offer (FPO). The bid/ issue will open on March 24 and close on March 28. In a regulatory filing to the stock exchanges, Ruchi Soya, which is owned by Yoga guru Baba Ramdev-led Patanjali Ayurved, said the company’s Board of Directors has approved and adopted the red herring prospectus for the FPO. “We wish to inform you that pursuant to the approval accorded by the Board of Directors of the Company (‘Board’) at its meeting held on March 10, 2022, read along with the approval accorded by the Issue Committee, a committee of the Board has passed resolution by circulation on March 11, 2022,” Ruchi Soya said in the regulatory filing.
The statement noted that the board has “approved and adopted the red herring prospectus dated March 11, 2022 (‘Red Herring Prospectus’); and approved the Bid/ Issue Opening Date of March 24, 2022, and Bid/ Issue Closing Date of March 28, 2022”. “In this relation, we have filed the Red Herring Prospectus with the Registrar of Companies, Maharashtra at Mumbai on March 11, 2022. We request you to take the above on record and the same be treated as compliance under the applicable provisions of the Securities and Exchange Board of India,” it said.