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Patanjali-controlled Ruchi Soya files FPO document to raise up to Rs.4,300-Cr

PTI  

Edible oil firm Ruchi Soya, which is owned by Baba Ramdev-led Patanjali Ayurveda, has filed a draft document with Sebi to launch a follow-on public offer (FPO) for raising up to INR 4,300 crore. The FPO is being launched to meet the Sebi norm of minimum public shareholding of 25% in a listed entity. The promoters have to dilute a minimum 9% stake in this round of the FPO, which is likely to hit the capital market next month.