Ruchi Soya FPO: Investors withdraw after SEBI notice

Ruchi Soya FPO subscriptions fall on Tuesday as investors withdraw after the SEBI notice.

The total subscription numbers of Ruchi Soya FPO fell from 360% to 260%. Retail portion withdrew more than 50% of their subscription in Ruchi Soya FPO.

The quota for Qualified Institutional Investors from 220% to 160%.

Interestingly, Ruchi Soya shares were up 10%, trading at Rs 888 on the NSE on Tuesday at the time of writing this article.

Also read/watch | Ruchi Soya FPO: SEBI gives retail an option to take back their money from Baba Ramdev's firm

In a first the market regulator SEBI has given retail investors an 'out' from an FPO bid. The Securities and Exchange Board of India provided an option to the investors in Ruchi Soya's Rs 4,300 crore follow-on public offer (FPO) to withdraw their applications.

SEBI noticed some unsolicited messages going out to Patanjali Ayurved’s users to invest in Ruchi Soya's FPO. Sebi has directed the lead banking managers to issue a notice to all the investors cautioning them of such circulation of unsolicited SMSes.