Overall the issue was subscribed 3.60% on the final day of bidding.
The portion reserved for retail investors was subscribed 0.90 times. While the Qualified Institutional Buyer category was subscribed 2.20 times, the Non-Institutional Investor category was subscribed 11.75 times and the Employee Reserved category was subscribed 7.76 times.
The FPO comprises equity shares of the face value of Rs 2 each aggregating to Rs4300 crore.
The issue also includes a reservation of up to 10,000 equity shares for subscription by eligible employees and promoters are offloading equity shares in the range of Rs615 — 650 each.
Last week, Ruchi Soya raised Rs1290 crore from anchor investors, who were allotted 19,843,153 equity shares at the upper price band of Rs650 per share.
Key brokerage houses like Hem Securities Research, Marwadi Financial Services, Angel One Limited, Asit C. Mehta Investment Interrmediates Limited and Choice Equity Broking Pvt Limited have given recommendations of “Subscribe” to the issue for long term perspective while highlighting the key strengths of the company.
SBI Capital Markets Limited, Axis Capital Limited and ICICI Securities Limited are the book running lead managers to the Issue (“BRLM”).
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