Ruchi Soya FPO investors earn 75% return in just 3 weeks

New Delhi: Ruchi Soya's FPO shares, which were listed earlier this month, have given strong returns to investors in a span of just three weeks.

The shares have rallied more than 75 per cent since their listing on bourses on April 8 to Rs 1,140 on Friday. The company had offered shares at Rs 650 apiece.

Patanjali Ayurveda-led ' board recently approved to rename it 'Patanjali Foods Limited'. According to media reports, the company is likely to acquire the FMCG business of Patanjali Ayurveda and revamp itself into a full-fledged FMCG player to compete with the likes of Marico, Nestle, HUL and others.

Ruchi Soya's FPO was open for subscription between March 24-March 28 as the company raised Rs 4,300 crore via allotment of 6,61,53,846 equity shares with a face value of Rs 2 each.

The edible oil major said it has repaid Rs 2,925 crore loans to banks and has become a debt-free company following the FPO.