NEW DELHI: The BSE (Bombay Stock Exchange) on Tuesday said figures for Ruchi Soya follow-on-public offer (FPO) that were displayed early Tuesday were its standalone numbers for Monday. The exchange said that it was in touch with the capital market regulator Sebi to know whether it is required to disseminate the FPO data till Wednesday.
BSE, later in the day, also said it displays cumulative bids of both exchanges every 3 minutes. “Ruchi Soya FPO extended for two days for only withdrawal of bids as per SEBI’s directive. Since this was sudden change of process and system had to consider these changes, for few updates in cumulative bids details section only BSE bids data was shown instead of cumulative data of both the exchanges. The same was restored to previous day data,” the BSE exchange said in a statement.
This clarification from the BSE came after the BSE cumulative demand page, where subscription levels are shown, was showing the Ruchi Soya’s FPO subscription levels to be around 2.58x compared with 3.6x on Monday. To note, the Sebi has asked the Patanjali Ayurved-owned company to allow existing bidders of the FPO to reconsider their bids until March 20th after circulation of “unsolicited SMSes” emerged.
Post this clarification and the Patanjali Ayurved-owned company’s announcement that the SMSes pertaining to investments in its FPO have not been issued by the company or its promoters and that the company has filed a first information report to investigate the origin of the messages, the company’s stock rallied by 15.94% to close at Rs 944.95 apiece on the BSE.
Intraday prices had jumped to Rs 978.05 on the BSE, a surge of 19.99%. This surge on stock prices came after Ruchi Soya’s share prices fell over 10% over the past four days. Ruchi Soya had launched a Rs 4,300-crore FPO on March 24 to pay back its Rs 3,300 crore of debt and use the remaining amount for corporate purposes.