Ruchi Soya FPO | Review

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Ruchi Soya, a part of Patanjali Group has come up with a follow-on public office (FPO). It will open on March 24-28 at Rs.615-650 a share. The FPO issue size is around 4,300 crore. The minimum bid will be for 21 shares and in its multiples thereafter.

What is FPO?

A Follow-on Public Offer (FPO) is the issuance of shares by a company listed on the exchange to investors. In FPO, additional shares are issued after the IPO. It is also referred to as a secondary offering.


Ruchi Soya Industries was incorporated in 1986. The company is one of the leading brands in the edible oil sector. Also, it is also the largest manufacturer of soya foods. It operates in different categories such as edible oil and by-products, Soya Protein, Biscuits, Honey, Aata, Breakfast cereals, Noodles, Nutraceuticals & wellness. The group also has other brands like Mahakosh, Sunrich, and Ruchi Gold.

Ruchi Soya has its own 22 manufacturing units. Its total refining capacity is 11,000 tonnes/day. It has a strong marketing and distribution network of 100 sales depots, 4763 distributors, and 4,57,788 retail outlets.

Yoga Guru Baba Ramdev-led Patanjali Group has acquired Ruchi Soya for Rs.4,350 crore through an insolvency process into 2019. Earlier in November 2019, the shares of Ruchi Soya were delisted. In January 2020 it was again relisted on the stock exchange at a price of Rs 16.10. The share price has touched a lifetime high of Rs.1535 which turns it into a multi-bagger investment.


Acharya Balkrishna, Ram Bharat, Snehlata Bharat, Ruchi Soya Industries Limited Beneficiary Trust, Patanjali Ayurved Limited, Vedic Broadcasting Limited, Patanjali Peya Private Limited, Patanjali Natural Biscuits Private Limited, Divya Packmaf Private Limited, Divya Yog Mandir Trust, Patanjali Gramudyog Nayas, Patanjali Parivahan Private Limited, Vedic Ayurmed Private Limited, Sanskar Info TV Private Limited, Patanjali Agro India Private Limited, SS Vitran Healthcare Private Limited, Patanjali Paridhan Private Limited, Gangotri Ayurveda Private Limited, Swasth Aahar Private Limited, Patanjali Renewable Energy Private Limited and Yogakshem Sansthan.

Strength & Weakness

Experience leadership and efficient managementCompetition from companies like HUL, Adani Wilmar
Part of FMCG company Patanjali Group Involved in different legal procedures
Offline as well as an online presence80% of sales come from edible oil only
Strong distribution network in IndiaRelied on the third party for raw materials
Leading company in oil palm plantationNegative net worth due to recent cash flow
Strong brands like Nutrela & Ruchi GoldDemand fluctuations from COVID-19

Company Financials

YearRevenue (in Crore)Profit (in Crore)

Object of issue

1) Repayment of certain outstanding loans

2) Meeting working capital requirements

3) General Corporate propose

Ruchi Soya FPO details

IPO Opening Date 24 March 2022 
IPO Closing Date 28 March 2022 
Face Value Rs.2 per equity share 
IPO Price Rs.615-650 per share 
Market Lot 21 Shares 
Minimum Order Quantity 21 Shares 
Listing At NSE, BSE 
Issue Size Up to Rs.4,300 Crore 
QIB Shares Offered 50% of the offer 
Retail Shares Offered 35% of the offer 
NII/HNI Shares Offered 15% of the offer 

Ruchi Soya FPO Lot Size

Application Lot Shares Amount 
Minimum 21 Rs.13,650 
Maximum 14 294 Rs.1,91,100 

Ruchi Soya FPO Promoter Holding

Pre-issue Shareholding 

Promoter – 98.90% Public – 1.10% 

Post-issue Shareholding 

Promoter – 81.00% Public – 19.00% 

Book-Running Lead Managers

Name of the Registrar

About the author

Shankar Awale

Hey! I am Shankar Awale an aspiring blogger with an obsession for all things of Finance. This blog is dedicated to help people to learn about Financial Knowledge in easy language.

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