Ruchi Soy Industries The stock prices plunged 19% in the first exchanges of April 6, day after the approval of the board of directors of 6.61 Crore shares to raise 4,300 CRores of Rs, following the recent Next Public Offer (FPO) whose subscription fell as a regulator. Withdrawals authorized in the light of “non-solicited SMS announcing the question”.
“Following the allotment in the matter, the share capital paid will increase by 59.16 82 014 Rupees to 72.39 89,706 rupees,” the company said in a release. In particular, the FPO took the warmth of the watchdog as Securities and Exchange Board of India (SEBI) noted “the circulation of non-solicited SMS advertising of the question”.
Although the company is distant from messages, the market regulator on March 28 asked to publish newspaper advertisements warning investors of such SMS. SEBI also provided investors with an option to remove their applications into a three-day window from March 28 to 30.
Some 14,583 applications, representing 9.74 million shares, were removed from March 30, BSE data showed. Qualified institutional bidders withdrew 7.86 million offers, while high net worth investors recalled 1.31 million. Retail investors removed 5.70 LAKH actions. With this withdrawal, the global subscription fell to 3.39 times from 3.6 times on March 28th. In particular, the Ruchi Siera de Patanjali was published on March 29, published a public notice indicating that they filed a first information report to discover the authors of unsolicited SMS.
At 09:40, Ruchi Soay Industries cited in RS 775.95, at the bottom of RS 99.50, 11.37% on BSE.