SEBI’s approval to bring FPO to Babu Ramdev-led Ruchi Soya, may start next week

Taste Soy FPO Price Details: There is good news for people who have been waiting a long time for the FPO of Taste Soy. The company has been approved by SEBI to become an FPO. The company may launch an FPO next week. Let us tell you, the ownership of this company is in Patanjali Ayurveda. For a long time, Baba Ramdev-led Ruchi Soya’s FPO talk was a burden.

A person associated with the company said, “SEBI’s approval to bring in an FPO was received on Saturday.” He said, ‘It’s too early to launch them. Prices will be announced by the release date. Ruchi Soya had drafted SEBI to bring in 4,300 crore FPO.

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Let us tell you, in 2019, Patanjali bought Ayurvedic flavored soy for Rs 4350 crore. The company is listed on 27 January 2020 for Rs 16.10. But by June 29, 2021, its prices will be Rs 1,535. The current price is Rs. With 0.5% return on the Bombay Stock Exchange.

Let us tell you that the company uses 60 percent of the proceeds from this FPO to repay the taste soy loan. 20 percent will be used for working capital and another 20 percent for general corporate.

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What does Baba Ramdev say about prices

In an interview with Mint in July, Baba Ramdev said of pricing, “We will ensure a price balance between our existing shareholders and the investors coming into the FPO.” He then said, “We have the goal of completely freeing the company. We hope to achieve this in two to three years.

What is FPO?

FPO is similar to IPO. When a company listed on the stock exchange offers to raise money to sell its shares publicly, it is called a follow-on public offering.

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