Ruchi Soya says message on 30% discount pricing not by firm, FIR lodged 

Ruchi Soya has replied to the Securities and Exchange Board of India’s (SEBI) letter to the company seeking clarification about the message in circulation in social media, speculating about investment opportunities in the company’s issue. The company has said that this message was not issued by them, and an FIR has been lodged regarding the same. 

“We understand that there is a SMS/message in circulation in social media, speculating about investment opportunity in our Company’s Issue and about equity shares of our Company being available at discount to the market price (“Message”). We wish to bring to attention of the investors that this Message has not been issued by our Company or any of our Directors, Promoters, Promoter Group or Group Companies,” the company said in a filing to BSE. 

Ruchi Soya added that a first information report was filed on March 27 by the company at a police station in Haridwar to take up investigation of the circulating message.

The widely circulated message stated the following: “Great news for all beloved members of Patanjali Parivar. A good investment opportunity in Patanjali Group. Patanjali Group company – Ruchi Soya Industries has opened the Follow-on Public Offer (FPO) for retail investors. The issue closes on 28th March 2022. This is available in the share band of Rs 615-650 per share i.e. discount of about 30% to market price. You can apply for shares through your bank/broker/ASBA/UPI in your Demat account.”

“As directed by SEBI, we wish to bring to attention of the investors that all Bidders (other than Anchor Investors), have an option to withdraw their Bids from March 28, 2022, till March 30, 2022. Investors should further note that Bidding in the Issue is closed today i.e. March 28, 2022, and accordingly no further Bids will be accepted in the Issue. Any Bids, after the Bid/Issue closure will be rejected,” it said further adding that one can withdraw their bid by submitting a request for the same to the concerned Designated Intermediary, who will assist in the withdrawal before the finalisation of the allotment.

Also read: Ruchi Soya fixes Rs 615-650 price band for its Rs 4,300-crore FPO