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FPO Bids: Ruchi Soya Told To Let Investors Withdraw – The Indian Express

by NewsReporter
March 29, 2022
in Business
fpo-bids:-ruchi-soya-told-to-let-investors-withdraw-–-the-indian-express
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By: Express News Service | Mumbai |

March 29, 2022 5:44:29 am

According to the notice by the markets watchdog, an SMS is to be sent to all the applicants of the received bids, informing them of the additional window of withdrawal.  (Representational)

The Securities and Exchange Board of India (Sebi) on Monday asked Ruchi Soya Industries to give the option to investors in the follow-on public offer (FPO) to withdraw their bids due to “circulation of unsolicited SMSs advertising the issue”.

In a directive to the investment bankers to the issue, Sebi has said prima-facie the contents of the unsolicited SMS appear to be “misleading/fraudulent” and “not in consonance” with Sebi regulations. The window for withdrawal will be available on March 28-30.

According to the notice by the markets watchdog, an SMS is to be sent to all the applicants of the received bids, informing them of the additional window of withdrawal.

© The Indian Express (P) Ltd

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