Ruchi Soya Files FIR Against Circulation Of Text Messages Advertising Follow-On Public Offering

The company has said that the SMSes regarding investments in its follow-on public offering have not been issued by the company or by any promoters

On Monday, the Sebi had asked Ramdev-backed Ruchi Soya Industries to issue an advertisement in newspapers cautioning the investors about the circulation of such unsolicited SMSes. Image: Getty

New Delhi: Ruchi Soya Industries on Tuesday said the SMSes regarding investments in its follow-on public offering (FPO) have not been issued by the company or by any promoters.

The company in a news release mentioned that Ruchi Soya has lodged an FIR to find out the origin and the culprits of unsolicited SMSes advertising company’s Rs 4,300 crore follow-on public offer (FPO).

A first information report (FIR) bearing No. 0188 dated March 27, 2022 (“FIR”) has been lodged by Ruchi Soya Pvt Ltd with a police station at Haridwar to take up investigation in respect to circulation of the Message, under Section 67A of the Information Technology Act, 2000 and section 420 of the Indian Penal Code, 1860, the company said in its release.

“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 attention of the investors that this message has not been issued by company or any of our Directors, Promoters, Promoter Group or Group Companies. A first information report bearing No 0188 dated March 27, 2022 (“FIR”) has been logged by our company with a police station at Haridwar to take up investigation in respect to circulation of the Message, under Section 67A of the Information Technology Act, 2000 and section 420 of the Indian Penal Code, 1860,” the company said in the public notice.

On Monday evening, the Securities and Exchange Board of India (Sebi), the capital market regulator, had provided an option to the investors in Ruchi Soya's FPO to withdraw their applications following the circulation of the SMS.

The Sebi had asked Ramdev-backed Ruchi Soya Industries to issue an advertisement in newspapers cautioning the investors about the circulation of such unsolicited SMSes. The advertisement is to be issued on “March 29 and 30”.

On Tuesday at 11.30 am, shares of Ruchi Soya were trading at Rs 914 apiece, up 12.20 per cent, on the BSE.