Ramco Systems Ltd closes QIP

Subsequent to the approval of the Fund Raising Committee ("the Committee") of Ramco Systems Ltd on April 22, 2015 for opening the issue and approving the preliminary placement documents, the Committee in its meeting held on April 27, 2015, has approved the closure of the QIP on April 27, 2015.

The Board approved the issue price of Rs. 635.00 per equity share, which is at a discount of 4.94% to the floor price of Rs. 668.03 per equity share, for the equity shares to be allotted to eligible qualified institutional buyers in the QIP.

The Board also approved and adopted placement document dated April 27, 2015 in connection with the QIP.

Shares of RAMCO SYSTEMS LTD. was last trading in BSE at Rs.621.75 as compared to the previous close of Rs. 617.5. The total number of shares traded during the day was 6810 in over 795 trades.

The stock hit an intraday high of Rs. 633.75 and intraday low of 597. The net turnover during the day was Rs. 4226925.

Source : Equity Bulls

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