Ruchi Soya follow-on public offer soon
Edible oil firm Ruchi Soya, which is owned by Baba Ramdev-led Patanjali Ayurved, will hit the capital market with its follow-on public offer (FPO) on March 24 to raise up to Rs 4,300 crore.
In a regulatory filing late on Friday, Ruchi Soya said a committee of the board has approved and adopted the red herring prospectus.
It also approved the bid/ issue opening date of March 24, 2022, and closing date of March 28, 2022.
In August last year, the company had received Sebi’s go-ahead to launch the FPO. It had filed the draft red herring prospectus in June 2021.
The company is coming out with the public issue to meet Sebi’s norm of minimum public shareholding of 25 per cent in a listed entity.
Navi Tech IPO
Sachin Bansal-led Navi Technologies has filed preliminary papers with Sebi to raise Rs 3,350 crore through an initial public offering (IPO).
The proposed IPO is completely through a fresh issue of equity shares and there will be no offer-for-sale, according to the prospectus.
Flipkart co-founder Bansal, who has invested around Rs 4,000 crore into Navi till date, is not diluting his stake in the IPO.