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Published: Jan 15, 2022
Updated: Jan 15, 2022
Ruchi Soya, a company taken over by the Patanjali group, was planning to come out with an follow-on offer of shares to reduce the promoter’s stake from 98 per cent.
The share sale was targeted for Diwali last year but after the road shows, the bankers informed the company that the response was very poor among investors and the FPO would bomb.
Baba Ramdev, a director on the board of Ruchi Soya and close to the ruling party, made a huge faux pas by asking his yoga followers to invest in the Ruchi Soya FPO and become millionaires ‘overnight’.
SEBI is investigating the matter and has censored Ramdev. The question is: When will Ruchi Soya will come back to the market? It’s share price is already cooling down and despite a booming stock market, Ruchi Soya is unable to launch the issue.
February 15, 2025 - First Issue
Industry Review
VOL XVI - 10
February 01-15, 2025
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