Ramco Systems Ltd opens QIP

Subsequent to the approval accorded by the Board of Directors of Ramco Systems Ltd, at its meeting held on June 27, 2014 and the approval of the shareholders of the Company through postal ballot resolution dated September 12, 2014 for the QIP, the Fund Raising Committee of the Company on April 22, 2015, has authorised the opening of the QIP on April 22, 2015.

The Board approved and adopted the preliminary placement document dated April 22, 2015 in connection with the QIP, (the "Preliminary Placement Document"). Further, the Company has filed the preliminary placement document dated April 22, 2015 with your office and approved the floor price for the QIP.

The Company has further informed that the 'Relevant Date' for this purpose, in terms of Regulation 81 (c)(i) of the SEBI ICDR Regulations, is April 22, 2015 and accordingly the floor price in respect of the aforesaid QIP, based on the pricing formula as prescribed under Regulation 85(1) of the SEBI ICDR Regulations is Rs. 668.03 per Equity Share.

Shares of RAMCO SYSTEMS LTD. was last trading in BSE at Rs.704.5 as compared to the previous close of Rs. 625.5. The total number of shares traded during the day was 79572 in over 9413 trades.

The stock hit an intraday high of Rs. 731 and intraday low of 635. The net turnover during the day was Rs. 56103661.

Source : Equity Bulls

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