Baba Ramdev

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Ruchi Soya, an edible oil company owned by Baba Ramdev's Patanjali Ayurveda, has filed a draught document with SEBI to undertake a follow-on public offering (FPO) with a target price of Rs 4,300 crore. The FPO is being launched to fulfill the SEBI requirement of a 25% public investment in a listed firm. According to sources, Ruchi Soya filed a draught red herring prospectus (DRHP) with market regulator SEBI on Saturday, with the business planning to raise to Rs 4,300 crore through the share sale. According to them, the promoters must dilute a minimum of 9% of their ownership in this round of the FPO. After receiving Sebi's permission, the FPO is expected to join the financial markets next month.

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