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Ruchi Soya FPO extended but only for withdrawal, BSE clarifies on bid detail

The follow-on public offer of Ruchi Soya was subscribed 3.6 times as the FPO garnered bids for 17.60 crore equity shares against the size of 4.89 crore equity shares on the final day of bidding - March 28.

March 29, 2022 / 03:43 PM IST
Ruchi Soya has also lodged an FIR to take up the investigation against the circulation of unsolicited messages, regarding the FPO. (Representative image)

Ruchi Soya has also lodged an FIR to take up the investigation against the circulation of unsolicited messages, regarding the FPO. (Representative image)

 
 
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The BSE on March 29 issued a clarification on the FPO subscription numbers of Ruchi Soya Industries.

Investors in Ruchi Soya's follow-on public offer (FPO) have now been allowed to withdraw their bids, all because of an advertisement that was termed as misleading by the market regulator SEBI. Investors other than anchor buyers have an option to withdraw the bid till March 30, in an unprecedented action.

The extension of FPO, only for withdrawal of bids briefly caused confusion among investors. "Since this was a sudden change of process and system had to consider these changes, for few updates in Cumulative Bids Details section only BSE Bids data was shown instead of Cumulative data of both the Exchanges", the BSE statement said. The subscription numbers have now been 'restored to previous day data, it added. The stock exchange displays cumulative bids of both exchanges every three minutes.