Ruchi Soya FPO investors earn 75% return in just 3 weeks

New Delhi: Ruchi Soya's FPO shares, which were listed earlier this month, have given strong returns to investors in a span of just three weeks.

The shares have rallied more than 75 per cent since their listing on bourses on April 8 to Rs 1,140 on Friday. The company had offered shares at Rs 650 apiece.

Patanjali Ayurveda-led Ruchi Soya Industries' board recently approved to rename it 'Patanjali Foods Limited'. According to media reports, the company is likely to acquire the FMCG business of Patanjali Ayurveda and revamp itself into a full-fledged FMCG player to compete with the likes of Marico, Nestle, HUL and others.

Ruchi Soya's FPO was open for subscription between March 24-March 28 as the company raised Rs 4,300 crore via allotment of 6,61,53,846 equity shares with a face value of Rs 2 each.

The edible oil major said it has repaid Rs 2,925 crore loans to banks and has become a debt-free company following the FPO.