Ruchi Soya FPO updates in cumulative bids section only BSE's, says exchange

NEW DELHI: BSE on Tuesday said figures for Ruchi Soya follow-on-public offer (FPO), which were reflecting on its cumulative demand page, were BSE's standalone numbers for Monday. A BSE spokesperson said that the exchange was in touch with the market regulator Sebi to know whether it is required to disseminate the FPO data till Wednesday.

Later in a release, BSE said it displays cumulative bids of both exchanges every 3 minutes. "Ruchi Soya FPO extended for two days for only withdrawal of bids as per SEBI’s directive. Since this was sudden change of process and system had to consider these changes, for few updates in cumulative bids details section only BSE bids data was shown instead of cumulative data of both the exchanges. The same was restored to previous day data," it said in a statement.

The Rs 4,300 crore follow-on public offer (FPO) was extended after Sebi directed the exchanges to open a two-day window for existing bidders to reconsider their bids after circulation of "unsolicited SMSes" emerged.

Earlier on the BSE cumulative demand page, the FPO subscription levels were being reflected at 2.58 times compared with 3.6 times on Monday, making many wonder whether retail investors, HNIs and employees of the firm, who bade for the issue, went for withdrawals.

As per the same data, cumulative retail demand had fallen to 0.39 times from 0.90 times the previous day. The quota reserved for non-institutional investors was subscribed 9 times compared with 11.75 times the previous day. The quota reserved for employees had also witnessed withdrawals.