Ruchi Soya FPO - Subscription Day 2

QIB Portion

Let us first talk about the pre-FPO anchor placement. On 23rd March, Ruchi Soya Ltd did an anchor placement of 1,98,43,153 shares at the upper end of the price band of Rs.650 to a total of 46 anchor investors raising Rs.1,290 crore, representing 30% of the total issue size. 

The list of QIB anchors included a number of marquee international names like YAS TAKAUL, SBI Life, Authum Investments, Winro Commercial, AG Dynamics Fund, Societe Generale, Volrado Fund, Quant Fund, Kotak MF, Birla MF, Belgrave Investments, Cohesion MK Best Ideas, Alchemy, ASK India, HDFC Life Insurance and the Oman Sovereign Fund.
 

Check - Ruchi Soya FPO - Subscription Day 1


The QIB portion (net of anchor allocation as explained above) has a quota of 139.82 lakh shares of which it has got bids for 57.31 lakh shares at the close of Day-2, implying 0.41X or 41% subscription for QIBs at the close of Day-2. However, QIB bids typically get bunched on the last day but the strong response in the anchor placement shows that there is healthy and substantial institutional appetite for the FPO.
 

HNI / NII Portion

The HNI portion got subscribed 0.26X or 26% (getting applications for 27.12 lakh shares against the quota of 104.86 lakh shares). This is a relatively tepid response at the close of Day-2 with most of the response coming from HNI individuals. However, this segment normally sees the maximum response bunched on the last day. Bulk of the funded applications and corporate applications, come in on the last day of the FPO only.

Retail Individuals

The retail portion was subscribed a relatively better 0.39X or 39% at the close of Day-2. Retail interest is normally seen in the first 2 days, so the eventual interest level may be lower. It must be noted that retail allocation is 35% in this FPO.

For retail investors; out of the 244.68 lakh shares on offer, valid bids were received for 95.46 lakh shares, which included bids for 77.51 lakh shares at the cut-off price. The FPO is priced in the band of (Rs.615-Rs.650) and will close for subscription on 28th March 2022.

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