Ramco Systems Ltd allots 5118100 Equity Shares

Subsequent to the approval accorded by the Board of Directors of Ramco Systems Ltd, at its meeting held on July 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 29, 2015, has allotted of 51,18,100 equity shares of Rs. 10/- each to Qualified Institutional Buyers at a price of Rs. 635.00 per equity shares which is at a discount of 4.9444% on the floor price of Rs. 668.03 per equity share aggregating to Rs. 3,249.993,500.

Consequent to this the paid up equity share capital has increased from 24,420,948 equity shares of Rs. 10/- each to 29,539,048 equity shares of Rs. 10/- each.

Shares of RAMCO SYSTEMS LTD. was last trading in BSE at Rs.621.5 as compared to the previous close of Rs. 616.25. The total number of shares traded during the day was 1874 in over 399 trades.

The stock hit an intraday high of Rs. 635.5 and intraday low of 621.5. The net turnover during the day was Rs. 1177484.

Source : Equity Bulls

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