Ruchi Soya board approves allotment of 66.1 million shares to raise Rs 4,300 crore

Yoga guru Ramdev's Patanjali Ayurved held over 98% stake in Ruchi Soya (File image)

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26 Aug, 2025 12:21

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Ruchi Soya Industries Ltd on April 5 approved the allotment of around 66.1 million shares to raise an amount of Rs 4,300 crore. The approval comes days after the Patanjali-backed company launched the follow-on public offer (FPO), which was subscribed 3.6 times.

"The issue committee of the board of directors of the company at its meeting held today has approved the allotment of 6,61,53,846 equity shares of face value of Rs 2 each, for an amount aggregating to Rs 4,300 crores, pursuant to the issue," it informed the stock exchanges.

Following the allotment of equity shares in the issue, the paid-up equity share capital of the company "stands increased from Rs 59,16,82,014 to Rs 72,39,89,706", the regulatory filing added.

Notably, Ruchi Soya's FPO landed in a row after the Securities and Exchange Board of India (SEBI) took cognisance of the “circulation of unsolicited SMSes advertising the issue”.

While the company distanced itself away from the messages, the market regulator had, on March 28, asked it to publish newspaper advertisements cautioning investors about such unsolicited SMSes.

SEBI, citing the messages that advertised the issue, also provided an option to investors to withdraw their applications within a three-day window that stretched from March 28-30.

Some 14,583 applications, amounting to 9.74 million shares, were withdrawn as of March 30, the data from BSE showed.

Qualified institutional bidders withdrew 7.86 million bids, while high net-worth investors recalled 1.31 million. Retail investors withdraw 5.70 lakh shares.

With this withdrawal, the overall subscription fell to 3.39 times compared to 3.6 times on March 28.

Notably, Ruchi Soya had on March 29 issued a public notice saying they have lodged a first information report to find out the origin and the culprits of unsolicited SMSes.