Ramco Systems Ltd approves 1:2 rights issue at Rs. 155

A meeting of the Rights Issue 2013 Committee of the Board of Directors of Ramco Systems Ltd was held on April 09, 2014 to consider the terms of the Rights Issue and for fixing the record date.

The Rights Issue Size is fixed as 79,58,293 Equity Shares with a face value of Rs. 10/- each. The Rights Entitlement Ratio is 1:2, i.e. One equity share for every Two fully paid-up equity shares of Rs. 10/- each held as on the Record Date.

The Rights Issue Price has been fixed as Rs. 155/- per Rights Equity Share. (including a premium of Rs. 145/- per equity share). The entire Rights Issue Price, i.e. Rs. 155/-, shall be payable on application.

The Issue Opening Date is May 05, 2014 and the Closing Date is May 19, 2014 (The Issue Closing date may be extended by the Committee to an extent that the issue remains open for a period not exceeding 30 days from Issue Opening Date).

All the equity shares to be issued pursuant to the Issue shall rank pari passu with the existing equity shares of the Company.

Shares of RAMCO SYSTEMS LTD. was last trading in BSE at Rs.196.25 as compared to the previous close of Rs. 193.25. The total number of shares traded during the day was 4993 in over 109 trades.

The stock hit an intraday high of Rs. 202.7 and intraday low of 194. The net turnover during the day was Rs. 994580.

Source : Equity Bulls

Keywords