Ruchi Soya freezes at 20% upper circuit as board okays Rs 4,300-crore FPO

Shares of Ruchi Soya Industries were locked at 20 per cent upper circuit at Rs 964.40 on the BSE on Monday after the edible oil firm announced that it will launch its follow-on public offer on March 24.  The issue will close on March 28, 2022.

The company, which is owned by Baba Ramdev-led Patanjali Ayurved, proposed to raise up to Rs 4,300 crore. A follow-on offering is an issuance of additional shares made by a company after an initial public offering.

In a regulatory filing late on Friday, Ruchi Soya said a committee of the board has