Last Updated on May 1, 2023 by admin
Rajkotupdates.News : Ruchi Soya To Be Renamed Patanjali Foods Company Board Approves Stock Surges is our today’s topic. In a BSE filing, Patanjali-owned Ruchi Soya stated that its board of directors approved changing the company name to Patanjali Foods Ltd. The meeting took place on April 10.
Rajkotupdates.News : Ruchi Soya To Be Renamed Patanjali Foods Company Board Approves Stock Surges
“The Board of Directors has decided to change the company’s name to Patanjali Foods Limited or any other name as may be made applicable by the Registrar of Companies, Maharashtra, Mumbai, subject to all other applicable approval,” the filing stated.
Ruchi Soya also stated that the board had given its in-principle approval to increase synergies with Patanjali Ayurved Limited’s food portfolio in any way at arm’s length.
The board also authorized company officials to negotiate, finalize, execute, and deliver the proposed transaction’s terms and conditions to maximize synergies with Patanjali Ayurved.
Ruchi Soya’s most recent FPO was 3.6 times oversubscribed. It received bids for 17.56 crore equity shares on the final day, compared to the size of 4.89 crore equity shares. The retail quota, which accounts for 35% of the issue, was subscribed to at a rate of 90%.
The oil-and-food major launched its FPO on March 24 with a target of Rs 4,300 crore. For the public offering, the company set a price range of Rs 615-650. Hope you enjoy reading our article Rajkotupdates.News : Ruchi Soya To Be Renamed Patanjali Foods Company Board Approves Stock Surges.
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