Ruchi Soya FPO subscribed 3.6x on Day 3

The INR 4,300 crore FPO of Ruchi Soya Industries was subscribed 3.6 times as of 5 pm on Monday. Investors bid for 17,60,68,935 equity shares against on offer 4,89,46,260 equity shares. The employee quota was subscribed nearly 8 times, whereas the HNI portion was booked 11.75 times. The retail portion fetched 90% bids, whereas the QIB portion was subscribed 2.2 times. Baba Ramdev's Patanjali Ayurveda-led Ruchi Soya is selling its shares in the range of INR 615-650 apiece. Patanjali owns a 98.9% stake in Ruchi Soya and post the issue its shareholding in the company will reduce to 81%. It needs to cut this further to 75% to comply with minimum shareholding norms. Societe Generale, BNP Paribas, The Sultanate of Oman - Ministry of Defence Pension Fund, Yas Takaful PJSC, an Abu Dhabi-based insurance company, MK Cohesion, UPS Group, and Alchemy are among the foreign investors that received allocation under the anchor investor portion.