Ramco Systems Board approves raising of Rs. 500 crores

The Board of Directors at its meeting held on July 27, 2014 have considered and approved the proposal for raising of funds to the tune of up to Rs. 500 crores through public offering or qualified institutional placement or private placement or a combination thereof, by way of issuing equity shares or Global Depository Receipts (GDRs) or American Depository Receipts (ADRs) or Foreign Currency Convertible Bonds (FCCBs) or convertible securities or warrants which are convertible into equity shares of the company or any combination of securities.

The Board has also constituted a Fund Raising Committee, with all powers to decide and complete the raising of funds.

Shares of RAMCO SYSTEMS LTD. was last trading in BSE at Rs.295.1 as compared to the previous close of Rs. 289.35. The total number of shares traded during the day was 61606 in over 775 trades.

The stock hit an intraday high of Rs. 303.8 and intraday low of 287.3. The net turnover during the day was Rs. 18498636.

Source : Equity Bulls

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