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Ruchi Soya Industries Ltd’s stock surged nearly 15 percent on Friday after listing of shares of the company pursuant to its Follow on Public Offer (FPO). The stock zoomed 12.94 percent to settle at Rs 924.85 on BSE. During the day, it jumped 14.79 percent to Rs 940.

On NSE, it gained 14.71 percent to close at Rs 938. According to a notice by BSE on Thursday, 6,61,53,846 equity shares of Rs 2 each fully paid up of Ruchi Soya Industries Limited are listed and admitted for trading on the exchange with effect from Friday, April 08, 2022.

On Tuesday, the board approved the allotment of 6.61 crore shares to raise Rs 4,300 crore. The company had fixed the FPO issue price at Rs 650 per share.

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The issue was open from March 24 to 28. Notably, markets regulator Sebi chastised the FPO for the “distribution of unsolicited SMSes advertising the issue.” While the company distanced itself from the messages, the market regulator instructed it to run newspaper ads warning investors about such SMSes on March 28.

SEBI also gave investors a three-day window from March 28 to March 30 to withdraw their applications.

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According to BSE records, 14,583 applications totalling 9.74 million shares were withdrawn as of March 30.

Ruchi Soya had on March 29 issued a public notice saying they have lodged a first information report to find out the origin and the culprits of unsolicited SMSes.

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(With inputs from PTI)

(Edited by : Priyanka Deshpande)

First Published:Apr 8, 2022 5:17 PM IST