Ruchi Soya board meeting to fix FPO issue price postponed to March 31

Shares of Ruchi Soya surged on Tuesday after the company clarified that the SMSes pertaining to investments in its FPO have not been issued by the company or its promoters

Baba Ramdev-led Patanjali group's Ruchi Soya Industries on Tuesday said it has rescheduled its board meeting on March 31 to fix issue price of its Rs 4,300 crore FPO (follow-on public offer) in view of markets regulator Sebi's direction to allow withdrawal of investors' bids till Wednesday.

On Monday, the Securities and Exchange Board of india (Sebi) asked bankers of Ruchi Soya to give an option to investors, who participated in the FPO, to withdraw their bids while also cautioning them about "circulation of an unsolicited SMS" about the share sale.

"In light of the Sebi letter directing to keep the window