Benchmark indices face first weekly decline, steepest in 20 weeks
Sensex and Nifty faced their first weekly decline after four weeks of gains on Friday. The Sensex dropped to a low of 72,485 while the NSE Nifty 50 dipped to a low of 21,932.
Ruchi Soya Industries issued FPO thee days back.an FPO is a follow on issuance of shares after the initial IPO. The Employee quota was oversubscribed 6 times, whereas the HNI portion was booked 5.14 times.
Post the FPO, Patanjali Group’s holding in Ruchi Soya will come down to about 81 per cent, and the public shareholders would hold about 19 per cent.
The entire proceeds from the follow-on issue will be used for furthering the company’s business by repayment of certain outstanding loans, meeting its incremental working capital requirements and other general corporate purposes, the company had said recently while announcing the FPO.
Advertisement
Ruchi Soya’s Ruchi Gold brand is the market leader in branded palm oil and also the pioneer of soya foods in India under the brand name Nutrela.
Advertisement
