On March 29, Ruchi Soya sssued a public notice saying they have lodged FIR to find out the origin and the culprits of unsolicited SMSes advertising company’s Rs 4,300 crore follow-on public offer (FPO).
This is with reference to the Securities and Exchange Board of India’s letter bearing SEBI/HO/CFD/DIL2/P/OW/2022/12862/1 dated March 28, 2022. We understand that there is a SMS/message in circulation in social media, speculating about investment opportunity in our Company’s Issue and about equity shares of our Company being available at discount to the market price (“Message”).
We wish to bring to attention of the investors that this Message has not been issued by our Company or any of our Directors, Promoters, Promoter Group or Group Companies.
A first information report bearing No. 0188 dated March 27, 2022 (“FIR”) has been lodged by our Company with a police station at Haridwar to take up investigation in respect to circulation of the Message, under Section 67A of the Information Technology Act, 2000 and section 420 of the Indian Penal Code, 1860.
As directed by SEBI, we wish to bring to attention of the investors that all Bidders (other than Anchor Investors), have an option to withdraw their Bids from March 28, 2022, till March 30, 2022.
Investors should further note that Bidding in the Issue is closed today i.e. March 28, 2022, and accordingly no further Bids will be accepted in the Issue. Any Bids, after the Bid/Issue closure will be rejected.
The above mentioned option to withdraw can be exercised by submitting a request for the same to the concerned Designated Intermediary, who shall assist in such withdrawal of Bid cum Application Form, prior to the finalization of the Basis of Allotment. Investors should note the revised indicative timetable in respect of the Issue is set out below:
SEBI asks Ruchi Soya to permit FPO investors to withdraw bids
SEBI on Monday asked bankers of Baba Ramdev-led Patanjali group's Ruchi Soya to give an option to investors in its ongoing follow-on public offer of shares to withdraw their bids while also cautioning them about ''circulation of unsolicited SMS'' about the share sale.
The development assumes significance as the share sale was already oversubscribed 3.6 times and withdrawal of bids can have a bearing on the final numbers.