Financial Insights

Ruchi Soya files FIR against SMSs advertising its FPO, claims they were not sent by company

Yesterday, SEBI told Ruchi Soya Industries to allow investors to withdraw their bids from their FPO on account of unsolicited SMSs that falsely advertised the company’s FPO and were against SEBI guidelines. Today, Ruchi Soya lodged and FIR against the conspirators.

“We understand that there are SMS/messages in circulation in social media, speculating about investment in our Company’s issue and about equity shares of our Company being available at discount to market price (“Message”). We wish to bring to the attention of the investors that this message has not been issued by company or any of our Directors, Promoters, Promoter Group or Group Companies,” the company said in the public notice.

After the company’s clarification, the share surged and closed 15.8% higher at Rs 943.5. The share had seen a massive 15% fall a week ago. The share kept falling into this week when investors found confidence in the share and it touched Rs 943.5. Today the share trades 3.2% higher around Rs 971.

Highlight by Aman Agarwal.

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