Ruchi Soya apply-on offer: International investors lead withdrawal, murder 97 per cent of bids
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Our Bureau |
Mumbai, March 31
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Up prior to now on:
Mar 31, 2022
The firm had proposed to retract ₹4,300 crore thru the FPO; MFs, institutional investors terminate on
The apply-on offer of Ruchi Soya Industries met with a minor setback with cancellation of 14,583 applications for bids totalling to 97,40,829 shares price about ₹633 crore.
The two-day window for withdrawal of application for bids used to be opened by SEBI following circulation of unsolicited SMS prodding investors to inform for the shares. The web advertisement curiously promoted the topic by providing misleading and fraudulent files. The firm had proposed to retract ₹4,300 crore thru the FPO. The window for withdrawal, which used to be closed on March 30, used to be opened for all, moreover for anchor investors.
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Curiously, international institutional investors possess cancelled 97 per cent of their bids totalling 72.43 lakh shares in opposition to their inform for 74.51 lakh shares, while retail investors cancelled bids for 15.08 lakh shares in opposition to their overall inform of 2.19 crore shares.
Mutual funds and institutional investors didn’t murder any of their bids even while other category of institutional bidders withdrew bids for 6.15 lakh shares in opposition to their inform for 1.52 crore shares. High networth particular particular person investors and corporates possess cancelled 1.07 lakh shares and 1.74 lakh shares in opposition to their bids for 8.36 crore shares and a pair of.09 crore shares.
Total subscription down
Total subscription fell to three.39 cases compared with three.6 cases announced by the firm when the topic closed on March 28. The finalisation of the premise for allocation of the shares shall be performed on April 5 taking into myth the leisure bids.
Shares of the firm fell two per cent to ₹956 on Thursday.
Printed on
March 31, 2022
