Ruchi Soya FPO subscribed 33% on Day 2 on institutional interest

Investment bankers expect most of the bids to come on Monday, the final day of the issue

Ruchi Soya Industries’ follow-on public offering (FPO) was subscribed 33 per cent on Friday. The share sale closes on Monday. The qualified institutional buyer (QIB) portion was subscribed 41 per cent, high networth individual (HNI) portion 18 per cent, retail portion 36 per cent and the employee portion over four times.

Investment bankers expect most of the bids to come on the final day of the issue.

On Wednesday, Ruchi Soya allotted shares worth Rs 1,290 crore to anchor investors at Rs 650 apiece–the top-end of the price band. The lower-end of the price band is Rs 615 per share. Shares of