Ruchi Soya files a complaint against the distribution of unwanted communications promoting the company's FPO.

  • March 29, 2022, 11:30 a.m.

Ruchi Soya on March 29 issued a public notice saying they have lodged an FIR to find out the origin and the culprits of unsolicited SMSes advertising the company’s Rs 4,300 crore follow-on public offer (FPO).

"We understand that there are SMS/messages in circulation on social media, speculating about investment in our company’s issue and about equity shares of our company being available at a discount to market price ("Message"). We wish to bring to the attention of the investors that this message has not been issued by the company or any of our Directors, Promoters, Promoter Groups or Group Companies. "A first information report bearing No. 0188 dated March 27, 2022 ("FIR") has been logged by our company with a police station at Haridwar to take up an investigation in respect to the circulation of the message, under Section 67A of the Information Technology Act, 2000 and Section 420 of the Indian Penal Code, 1860," the company said in the public notice.

On Monday, the market regulator had provided an option to the investors in Ruchi Soya's FPO to withdraw their applications following the circulation of the said message.

"Great news for all the beloved members of Patanjali parivar. A good investment opportunity in the Patanjali Group Patanjali Group company, Ruchi Soya Industries Ltd, has opened the Follow-On Public Offer (FPO) for retail investors. The issue closes on March 28, 2022. This is available in the price band of Rs 615–650 rupees per share, i.e. a discount of about 30% to the market price. You can apply for shares through your bank/broker/ASBA/UPI in your demat account", the unsolicited message read.

The Securities and Exchange Board of India (SEBI), citing the circulation of the above message, had asked Ruchi Soya to issue an advertisement in newspapers cautioning investors about the circulation of such unsolicited SMS. The advertisement is to be issued on "March 29 and 30," the market regulator said in its order.

In the last session, shares of Ruchi Soya settled 6 percent lower at Rs 815.05 apiece on the BSE, while the benchmark Sensex ended 231.29 points, or 0.40 percent higher, at 57,593.49.

Author : Rajdhani Delhi Representative

Rajdhani delhi representative

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