Ruchi Soya finalises FPO share allotment, stock tanks 19%; here’s how to check allotment status

Patanjali-backed Ruchi Soya’s share price fell as much as 19.3% on Wednesday morning, a day after the company announced that it has finalised the FPO (Follow-on Public Offer) share allotment. Shares of Ruchi Soya had closed Tuesday’s trading session at Rs 874.45 per share. On Wednesday morning, the stock opened for trade at Rs 706 per share, down 19.3%. However, the stock did recoup a large part of its losses and nearly two hours after the opening bell, it was trading at Rs 791 per share, down just 9.6%.

In a BSE filing, Baba Ramdev’s Ruchi Soya said that the Issue Committee of the Board of Directors of the company at its meeting held on April 5, approved the allotment of 6,61,53,846 equity shares of face value of Rs 2 each, for an amount aggregating to Rs 4,300 crores, pursuant to the Issue. The paid-up equity share capital of the company now stands at Rs 72,39,89,706 as against Rs 59,16,82,014 earlier. Shares were allotted at price of Rs 650 per share.

Ruchi Soya completed its controversial FPO last month. The FPO came under capital market watchdog SEBI’s scanner after SMSes were sent to Patanjali customers about the FPO. The company’s promoters have said they had no role in sending the said messages. SEBI had then stepped in and allowed investors to withdraw their bids for the FPO. Foreign portfolio investors (FPIs) withdrew 97% of their bids after SEBI allowed the withdrawal of bids in the Ruchi Soya Industries FPO, BSE data showed.

Data also showed that High net-worth individuals (HNIs) withdrew 1.1% of their bids, while employees pulled back 4.84% of bids, and retail investors withdrew 2.6% of bids during the two-day period. No bids were withdrawn by domestic institutions and mutual funds during the period.

How to check share allotment

Investors who had bid for Ruchi Soya FPO can check their allotment status on BSE website. 

1. Go to the Status of Issue Application page on the BSE website (https://www.bseindia.com/investors/appli_check.aspx)
2. Under the Issue Type section, select Equity
3. Under the Issue Name section, select Ruchi Soya from the drop-down menu. 
4. Enter Application Number
5. Enter your PAN Number
6. Check the “I’m not a robot” checkbox 
7. Click Submit