India: Patanjali to sell stake in Ruchi Soya via a follow-on public offer

India: Patanjali to sell stake in Ruchi Soya via a follow-on public offer

Photo: Reuters

Edible oil producer Ruchi Soya Industries Ltd, owned by Ramdev’s Patanjali Ayurved group, is planning to sell fresh shares through a follow-on public offer (FPO) to cut promoter shareholding as mandated by the markets regulator, said two people aware of the development.