The company, which is backed by yoga guru Ramdev, will use the proceeds from the issue to expand its business, repay some outstanding loans, meet incremental working capital requirements and undertake general corporate activities, it said in an exchange filing.
The issue includes a reservation of 10,000 equity shares for subscription by eligible employees, it added.
In 2019, Ruchi Soya was acquired by Ramdev’s consumer packaged goods company Patanjali for its Nutrela brand for Rs 4,350 crore. The acquisition was conducted through an insolvency and bankruptcy code process, reports said.
Ruchi Soya ranks as one of the major players in the soya food space in India and the company had launched the Nutrela brand in the 1980s.
After Patanjali bought it, Ruchi Soya was able to gain from the countrywide distribution network that the ayurveda company boasts of as well as its strong presence in the fast-moving consumer goods sector.
Ruchi Soya shares were relisted on January 27, 2020 at Rs 16.10 a share. The stock, which touched a 52-week high of Rs 1,378 on June 9, 2021, closed at Rs 803.70 on Friday.
Ruchi Soya reported a 3 per cent increase in its net profit to Rs 234.07 crore for the quarter ended in December 2021. Its net profit stood at Rs 227.44 crore in the year-ago period.
Total income rose by 41 per cent to Rs 6,301.19 crore in the third quarter of this fiscal year from Rs 4,475.59 crore in the corresponding period of the previous year.
Ruchi Soya’s portfolio of brands includes popular names such as Ruchi Gold, Mahakosh, Sunrich, Nutrela , Ruchi Star and Ruchi Sunlight.
