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<ul><li><keyword id="53343" type="General" weightage="20" keywordseo="ruchi-soya" source="Orion">Ruchi Soya</keyword> is likely to announce its share allotment status today.</li><li>The company is one of the leading fast-moving consumer goods (FMCG) brands in India.</li><li>The FPO will be listed on April 8 on exchanges.</li></ul>The fast moving consumer goods (FMCG) company Ruchi Soya Industries — a subsidiary of the Patanjali Group, is likely to announce the allotment status of its follow-on public offering (FPO) today, April 5. The FPO was open for subscription from March 24 to March 28. In the three days of subscription, the follow-on public offer (FPO) was subscribed 3.6 times by investors. However, the firm got caught in a tangle with markets regulator Securities and Exchange Board of India (SEBI), wherein the regulator had allowed investors to withdraw their bids from Ruchi Soya’s FPO. Reportedly during this period, the subscription fell from 3.6 times to 3.4 times. A total of 14,583 applications made in the FPO were cancelled. The company came up with FPO to pay off huge debt and thereby cutting promoter shareholding in the company in compliance with SEBI norms. The company will use the proceeds from the FPO to repay its loans, for working capital needs and general corporate purposes. The price band of the FPO is ₹615-650 per share. Moreover, the grey market premium of the company’s shares showed a premium of ₹25 from the higher end of the price band. The company is one of the leading FMCG brands in the Indian edible oil sector and also one of the largest manufacturers of soya foods. Here is how to Ruchi Soya FPO allotment status on stock exchange website: <ul><li>Go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a> or NSE website<a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp"> here</a>.</li><li>On BSE, Select 'Equity' and then from the dropdown, select ‘Ruchi Soya’.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li><li>Please note the details will only be available once the shares are allotted. </li></ul>You can also visit the registrar website (Link Intime India) to check your application status. <ul><li>Visit the registrar's website <a href="https://linkintime.co.in/MIPO/Ipoallotment.html">here</a>.</li><li>Click on 'Select company' and click on ‘Ruchi Soya’.</li><li>Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.</li><li>Enter the captcha and click ’submit’.</li></ul>Once you hit 'submit', the status of your application will appear on the screen. Please ensure the details that you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/analysts-suggest-buying-hdfc-bank-shares-on-every-dip-as-merger-to-strengthen-housing-loan-portfolio/articleshow/90640153.cms">Analysts suggest buying HDFC Bank shares on every dip as merger to strengthen housing loan portfolio</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/rally-in-adani-group-companies-not-only-made-gautam-adani-indias-richest-man-but-also-made-a-fortune-for-its-investors/articleshow/90638038.cms">Rally in Adani Group companies not only made Gautam Adani India’s richest man, but also made a fortune for its investors</a>

Ruchi Soya FPO: Here’s how you can check the allotment status

<ul><li>Picked up by <keyword id="6356684" type="UNKNOWN" weightage="20" keywordseo="patanjali">Patanjali</keyword> Ayurved during insolvency proceedings in December 2019, the <keyword id="53343" type="COMPANY" weightage="20" keywordseo="Ruchi-Soya">Ruchi Soya</keyword> stock has rocketed to ₹1,431 from just ₹16.9 on January 27 when it was relisted. </li><li>The massive surge in its share price might have made its investors happy, but analysts are sounding the alarms and seeking a probe by the Securities Exchange Board of India (SEBI). </li><li>In the 104 trading sessions since relisting, Ruchi Soya’s market capitalisation has grown from ₹500 crore to ₹42,700 crore. </li></ul>The Ruchi Soya stock is a tale of multibaggers that will be told for years to come. Investors who haven’t been able to buy the stock are regretting, while the lucky ones rejoice. Analysts, however, want a probe into the stock by the Securities Exchange Board of India (SEBI). Ruchi Soya is a tale of springing back to life after nearly dying. One of the largest manufacturers of edible oil, Ruchi Soya went bankrupt last year, only to be <a href="https://www.businessinsider.in/business/news/patanjali-ayurved-completes-acquisition-of-bankrupt-ruchi-soya-for-rs-4350-cr/articleshow/72873511.cms">picked up by Patanjali Ayurved</a> during insolvency proceedings in December 2019. The restructuring that followed helped Ruchi Soya shed over ₹9,300 crore of debt. The company’s stock was relisted on January 27, after which it surged by 8,400% in 104 trading sessions, going from ₹16.9 to ₹1,431. <div type="image" title="Ruchi Soya share price in 2020" msid="76688592" hostid="261" caption="&amp;lt;p&amp;gt;Ruchi Soya share price in 2020&amp;lt;/p&amp;gt;"></div> <div type="Article" hostid="261" msid="76294547" title="These four stocks have doubled investor wealth in the last three years" mstype="2" mssubtype="0"></div> Why did the Ruchi Soya stock grow by 8,400%? So what’s behind this massive rally in the company’s stock price? A hope of a turnaround? 99.03% (nearly 29 crore shares) of Ruchi Soya’s shares are held by fifteen Patanjali group companies, leaving 0.97% (28 lakh shares) to the public. Out of these, only 10,000-15,000 shares are traded daily on an average, making it difficult for retail investors to buy in. This has sent the stock price rocketing from just ₹16.9 to ₹1,431 as of June 29, resulting in a growth of over 84 times. One of the factors contributing to the seemingly never-ending rally in the Ruchi Soya stock is the scarce supply of shares, and people <a href="https://economictimes.indiatimes.com/markets/stocks/news/after-8818-rally-in-103-days-ruchi-soya-faces-red-flag-analysts-want-a-sebi-probe/articleshow/76683745.cms">clamouring</a> to buy whatever shares they can get their hands on. This cycle has been running almost non-stop for over 100 days now. “Low free float is the primary reason for the surge in the shares of Ruchi Soya. Sebi should do some investigation and try to identify who are the buyers and why are they acquiring these shares,” independent market analyst Ambareesh Baliga <a href="https://economictimes.indiatimes.com/markets/stocks/news/after-8818-rally-in-103-days-ruchi-soya-faces-red-flag-analysts-want-a-sebi-probe/articleshow/76683745.cms">told</a> Economic Times. Another analyst too called for an investigation by SEBI. “SEBI should investigate why promoters are holding 99% stake even after five months of relisting,” Arun Kejriwal, director at Mumbai-based investment advisory firm Kris, told ET about the demand-supply situation that is driving up the share price of Ruchi Soya. Reverse merger of Patanjali on the cards? Another factor that has fuelled this demand for the company’s shares is the hopes of a reverse merger of Patanjali Ayurved with Ruchi Soya, which would give shareholders an early entry into the emerging fast-moving consumer goods (FMCG) player. The insolvency resolution plan put forward by the Patanjali group included the reverse merger of Patanjali Consortium Adhigrahan with Ruchi Soya. The Baba Ramdev-led Patanjali group is <a href="https://health.economictimes.indiatimes.com/news/industry/patanjali-group-eyes-to-be-rs-40000-crore-company-in-2020-21-aims-to-be-largest-fmcg-firm/73602461">targeting</a> a turnover of over ₹40,000 crore next year, and ₹50,000 to ₹1 lakh crore in the next five years. With this, it is taking an aim at Hindustan Unilever (HUL) which is the current leader in the FMCG segment. Ruchi Soya’s current market capitalisation stands at ₹42,700 crore, a 84 times jump from its ₹500 crore market cap in January 2020. In comparison, HUL is currently trading between ₹2,150-2,200, and has a market capitalisation of over ₹5 lakh crore. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/markets/news/sebi-has-ordered-a-special-audit-of-the-six-debt-funds-shut-down-by-franklin-templeton-in-may/articleshow/76148899.cms">SEBI orders special audit of Franklin’s six debt funds – with ₹30,800 crore wealth locked in, wary investors demand reopening</a> <a href="https://www.businessinsider.in/stock-market/markets/news/heres-what-will-move-sensex-and-nifty-50-this-week/articleshow/76684812.cms">Macro-economic data, auto sales and a continued rise in COVID-19 cases – here’s what will move Sensex and Nifty 50 this week</a> <a href="https://www.businessinsider.in/stock-market/markets/news/indusind-bank-godrej-apollo-tyres-some-of-the-biggest-gainers-in-june-are-stocks-where-promoters-have-raised-stakes/articleshow/76353024.cms">IndusInd Bank, Godrej, Apollo Tyres – some of the biggest gainers in June are stocks where promoters have raised stakes</a>

The Ruchi Soya stock has grown by 8,400% in 104 days – while investors rejoice, analysts want a SEBI probe

New Delhi, March 30 (IANS) India's key equity indices -- <keyword id="6484188" type="General" weightage="80" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="6354813" type="General" weightage="80" keywordseo="nifty" source="Orion">Nifty</keyword> -- extended their gains from the previous day and traded in the green in early trade on Wednesday. At 9.42 a.m., Sensex was 0.7 per cent or 378 points up at 58,321 points, whereas Nifty 0.6 per cent or 105 points up at 17,430 points. Among the individual stocks, Tata Consumers, <keyword id="85462" type="General" weightage="100" keywordseo="bajaj-finserv" source="Orion">Bajaj Finserv</keyword>, Hero Motocorp, <keyword id="111876" type="General" weightage="80" keywordseo="bajaj-finance" source="Orion">Bajaj Finance</keyword>, and Grasim Industries were the top five gainers among the Nifty 50 companies, while ONGC, Hindalco, JSW Steel, Tata Steel, and <keyword id="43217" type="General" weightage="80" keywordseo="tech-mahindra" source="Orion">Tech Mahindra</keyword> the top five losers, NSE data showed. Pharma, housing and telecom stocks can lend support to the rally, said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services. "But the upside to the rally is likely to be capped by profit taking and concerns arising from the hawkish US Fed," Vijayakumar said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/petrol-diesel-prices-hiked-by-80-paise-total-rate-hike-in-the-last-9-days-stands-at-5-60/articleshow/90531361.cms" style="">Petrol, diesel prices hiked by 80 paise; total rate hike in the last 9 days stands at ₹5.60</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sebi-allows-investors-to-withdraw-bids-in-ruchi-soya-fpo-should-applicants-be-worried/articleshow/90527842.cms">SEBI allows investors to withdraw bids in Ruchi Soya FPO. Should applicants be worried?</a>

Sensex jumps over 350 points in early trade; Tata Consumer, Bajaj Finserv, Hero Motocorp, Bajaj Finance, and Grasim Industries top five gainers among Nifty 50 stocks

<ul><li>Zee Entertainment witnessed a steep jump of over 17% in early morning trade on Thursday.</li><li>Zee Entertainment Enterprises Limited’s market capitalisation reached ₹28,786 crore ($3.7 billion).</li><li>The development comes after Invesco Developing Markets Fund decided not to pursue the EGM.</li></ul>The share price of Zee Entertainment Enterprises Limited witnessed a steep jump of over 17% in early morning trade on Thursday. The company was trading at ₹300.25 at 10:01 a.m., on March 24. With this, Zee Entertainment Enterprises Limited’s market capitalisation reached ₹28,786 crore ($3.7 billion). <div type="image" title="Zee Entertainment’s share price rallies up to 17% as Invesco puts down the sword" msid="90412309" hostid="261"></div> The development comes after Invesco Developing Markets Fund — the largest shareholder of Zee Entertainment Enterprises — decided not to pursue the extraordinary general meeting (EGM). The investment firm noted that the newly combined Zee-Sony entity will be substantially reconstituted and this will strengthen its board oversight. Invesco, in a statement, also emphasised it will continue to monitor the progress of the proposed merger. Invesco still retains the right to requisition a fresh EGM in case the merger is not completed as proposed. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> Both the companies — Zee Entertainment and Invesco — were entangled in a legal dispute since last year. Invesco reportedly wanted changes at Zee in the light of alleged corporate governance and financial irregularities that plagued the company. The issues were even <a href="https://m.economictimes.com/markets/stocks/news/sebi-lifts-restrictions-on-10-entities-in-zee-entertainment-insider-trading-case/articleshow/89669577.cms">flagged</a> by the market regulator. Invesco, which holds 18% shareholding in Zee Entertainment, had suggested six new independent board members to be appointed at Zee Entertainment. It also sought removal of Zee Entertainment’s current chief executive offering (CEO) Punit Goenka. The investment firm, on September 11, also asked Zee to call an EGM of shareholders to consider their demands. Bombay high court has also recognised Invesco’s requisition for EGM as legally valid. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/ruchi-soya-icici-bank-zee-entertainment-and-other-hot-stocks-to-watch-out-for-on-march-24/slidelist/90410086.cms">Ruchi Soya, ICICI Bank, Zee Entertainment and other hot stocks to watch out for on March 24</a> <a href="https://www.businessinsider.in/policy/economy/news/the-russia-ukraine-conflict-could-shake-up-the-global-balance-of-power-in-3-big-ways-economist-intelligence-unit-says/articleshow/90406629.cms" data-type="tilCustomLink">The Russia-Ukraine conflict could shake up the global balance of power in 3 big ways, Economist Intelligence Unit says</a> <a href="https://www.businessinsider.in/science/health/news/omicron-subvariant-infections-on-rise-in-us-accounts-for-over-34-of-the-new-covid-19-infections/articleshow/90410070.cms" data-type="tilCustomLink">Omicron subvariant infections on the rise in US, accounts for over 34% of the new COVID-19 infections</a>

Zee Entertainment’s share price rallies up to 17% as Invesco puts down the sword

<ul><li><keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword>'s shares were trading at ₹83.70 on Tuesday morning.</li><li>It currently sits on a market cap of ₹66,084 crore ($8.7 billion).</li><li>Zomato’s shares have fallen over 33% since its listing in July 2021.</li></ul>The share price of Zomato dipped nearly 3% on Tuesday morning, a day after the Competition Commission of India (CCI) decided to probe the company and its rival Swiggy over unfair pricing strategies. At 9:48 a.m., Zomato's shares were trading at ₹83.7, which is 2.9% lower than the previous day's close at ₹86.2. The food delivery firm currently sits on a market cap of ₹66,084 crore ($8.7 billion). This is nearly half of the ₹100,000 crore, or $13 billion, market cap the company reached within a few hours of its debut in the stock market. Zomato’s shares have fallen over 33% since its listing in July 2021. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> India’s anti-monopoly watchdog on Monday ordered a probe into food delivery businesses Zomato and Siggy over alleged unfair pricing practices and several other issues flagged by the restaurant association last year. The National Restaurants Association of India (NRAI) accused Zomato and Swiggy of indulging in deep discounting, data masking, imposing price parity terms on restaurants that worked with them and imposing high commission. The association, which represents over 500,000 restaurants, alleged that these practices were actually eating into these businesses. Now the CCI has asked its director-general to submit a report on this matter in the next 60 days. “The Commission is of the view that there exists a prima facie case with respect to some of the conduct of Zomato and Swiggy, which requires an investigation by the director general (DG), to determine whether … (they have) resulted in contravention of the provisions of Section 3(1) of the Act read with Section 3(4) thereof,” the anti-monopoly watchdog said in its order dated April 4. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/zomato-tcs-indusind-bank-among-top-stocks-to-watch-out-for-on-april-5/slidelist/90654292.cms" style="">Zomato, TCS, IndusInd Bank among top stocks to watch out for on April 5</a> <a href="https://www.businessinsider.in/stock-market/news/here-is-how-to-check-ruchi-soya-fpo-allotment/articleshow/90650772.cms" style="">Ruchi Soya FPO: Here’s how you can check the allotment status</a> <a href="https://www.businessinsider.in/stock-market/news/analysts-suggest-buying-hdfc-bank-shares-on-every-dip-as-merger-to-strengthen-housing-loan-portfolio/articleshow/90640153.cms" style="">Analysts suggest buying HDFC Bank shares on every dip as merger to strengthen housing loan portfolio</a>

Zomato stock dips nearly 3% after CCI’s probe order

<ul><li><keyword id="7636498" type="General" weightage="20" keywordseo="tata-consumer-products" source="Orion">Tata Consumer Products</keyword> announced the merger of all businesses of <keyword id="176328" type="General" weightage="20" keywordseo="tata-coffee" source="Orion">Tata Coffee</keyword> with itself as part of a reorganisation plan.</li><li>Investors of Tata Consumer Products and Tata Coffee cheered the development as it would unlock value for the company and boost profit.</li><li>Analysts believe the strategy to simplify corporate structure and bring several subsidiaries under one roof will save much expense for the company and make the Tata FMCG play stronger.</li></ul>Shares of two Tata Group companies -- Tata Consumer Products and Tata Coffee -- surged Wednesday after the former announced merger of Tata Coffee with itself. The move is part of a reorganisation plan for the Tatas in the fast-moving consumer goods (FMCG) space and its strategic priority of unlocking synergies and efficiencies. Let’s understand what does it change for the company and its investors As per the restructuring plan, Tata Consumer Products (TCPL) will acquire 10.15% stake in Tata Consumer Products UK Group for ₹570.8 crore. Also, it will merge the Tata Coffee business with itself. Under the scheme, shareholders of Tata Coffee (other than TCPL) will receive an aggregate of 3 equity shares of Tata Consumer Products for every 10 equity shares held by them in Tata Coffee. “The restructuring initiative is in line with Tata Consumer Products’ strategic priorities – to unlock synergies and create a future-ready organisation. This exercise will enable us to better leverage our supply chain, create customer-focused business verticals, and accelerate decision making and execution,” said Sunil D’Souza, managing director (MD) and chief executive officer (CEO) at Tata Consumer Products. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> <div type="image" title="tata con 2" height="900" width="1200" msid="90537413" hostid="261"></div>Analysts believe that there will be cut down in expenses, which may boost the company’s earnings by 5-10%. “There will also be additional savings in admin and legal expenses. Tata Consumer Products will also benefit from some tax savings and utilisation of tax credits. However, it needs to issue 7.5 million shares and 23.8 million shares to acquire Tata Consumer Products UK Group Ltd and Tata Coffee. TCPL’s number of shares will increase to 953 million from 922 million now. Overall, there will be earnings accretion of 5-10%,” said analysts at ICICI Securities. Tata Consumer Products has 45 global subsidiaries along with some joint ventures. Analysts say there is further scope to reduce the complexity of the structure and unlock further synergy benefits. “We expect TCPL to continue to announce further restructuring plans in FY23,” said analysts at ICICI Securities. <div type="image" title="tata coffee" height="900" width="1200" msid="90537424" hostid="261"></div>Further, the flagship FMCG company Tata Consumer Products may merge or consolidate more entities in the coming time to accelerate growth. “Per management, the core objective of this reorganisation is to simplify structure to about 22-23 legal entities over time from 45 legal entities at present. The management guided further simplification over next 12-24 months, drive cost synergies, tax efficiencies (international markets) and efficient dividend repatriation. The management expects 5-10% PAT accretion, have a single listed entity of Tata Group in FMCG space. This reorganisation would be completed in 12-14 months subject to approvals,” said analysts at Kotak Institutional Equities. Investors need to focus on the company’s earnings post the merger to understand change in revenue and profit. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage firm </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target price of Tata Consumer Products </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Morgan Stanley </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹886 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹925 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Institutional Equities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹765 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sebi-allows-investors-to-withdraw-bids-in-ruchi-soya-fpo-should-applicants-be-worried/articleshow/90527842.cms">SEBI allows investors to withdraw bids in Ruchi Soya FPO. Should applicants be worried?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/iphones-reported-as-stolen-will-no-longer-be-repaired-by-apple/articleshow/90534039.cms">iPhones reported as stolen will no longer be repaired by Apple</a>

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Ruchi Soya FPO: Here’s how you can check the allotment status

Bhakti Makwana

The Ruchi Soya stock has grown by 8,400% in 104 days – while investors rejoice, analysts want a SEBI probe

Rounak Jain

Sensex jumps over 350 points in early trade; Tata Consumer, Bajaj Finserv, Hero Motocorp, Bajaj Finance, and Grasim Industries top five gainers among Nifty 50 stocks

IANS

Zee Entertainment’s share price rallies up to 17% as Invesco puts down the sword

Kritti Bhalla

Zomato stock dips nearly 3% after CCI’s probe order

Kritti Bhalla

Tata Group brings some businesses under one roof to save expenses as it aims to have a single strong entity for FMCG space

Bhakti Makwana

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