Ruchi has invested money in Soyabean FPO and got good returns. The new shares were listed at a premium of over 30%. In such a situation, on the occasion of listing, FPOs have become a huge amount for the investors.
The price band of Ruchi Soya FPO was fixed at Rs 615 to Rs 650 per share. As per the upper price band, the investors had to invest Rs 13,650 for the lot. The new share was listed today at Rs 855. Accordingly, in many FPOs, the share allottee has got a listing profit of more than Rs.4000.
The stock of Ruchi Soya opened at Rs 855 on BSE at 9.15 am today and touched a high of Rs 885 within a few minutes. It is currently trading around Rs 855. Yoga guru Baba Ramdev has made the entry of new shares in the stock market by ringing the bell.
The company’s market cap increased
With the listing of new shares, the market cap of Ruchi Soya Company has increased to Rs 30,000 crore. Talking about the 52-week high of the stock, on June 9, 2021, the company’s stock reached Rs 1,377. Hence it hit a 52-week low of Rs 619 on April 22, 2021.
The FPO of Ruchi Soya Company was opened on March 24 to raise Rs 4,300 crore. The company aims to be debt free. Ruchi Soya, owned by Patanjali Ayurved, is one of the largest edible oil companies. Baba Ramdev had said in the recent past that the Ruchi Soya company would be expanded soon and a strategy to strengthen its hold is being worked out.
Baba Ramdev bought the company in 2019
It is worth noting that in the year 2019, Patanjali had acquired Ruchi Soya for Rs 4350 crore through bankruptcy proceedings. The promoters of the company currently hold around 98.90 per cent stake. In the next three years, the promoter will have to reduce his stake in the company to 75 per cent.