The media reported that the company plans to raise up to Rs 4,300 crore through the share sale and the promoters have to dilute a minimum 9% stake in this round of the FPO.
As of 31 March 2021, promoters of the company held 98.9% stake in the company. As per the Sebi listing rules, the company needs to bring down promoters' stake to achieve the minimum public shareholding of 25% in compliance with the listing requirement.
On a standalone basis, Ruchi Soya Industries' net profit tanked 97% to Rs 227.44 crore on a 20.3% surge in net sales to Rs 4,465.32 crore in Q3 FY21 over Q3 FY20. Ruchi Soya is one of the largest manufacturers of edible oil in India.
