Ruchi Soya FPO investors gain 42% in under two weeks, shares end at Rs 925

Investors who applied in the Rs 4,300-crore follow-on public offering (FPO) of Ruchi Soya Industries have seen their investment value soar 42 per cent in less than two weeks. Shares of the Patanjali Ayurved-promoted firm ended at Rs 925 compared to the FPO price of Rs 650. The 66.15 million new shares issued in the FPO, which closed on March 30, commenced trading today.

Ruchi Soya’s stock was expected to decline following the listing of new shares. Defying expectations, the stock surged 13 per cent on Friday with shares worth Rs 3,823 crore changing hands. The company’s announcement that it