Raminfo board approves Preferential Issue to raise up to Rs. 62 Crores: Chalks Out Aggressive Growth Plans

Hyderabad headquartered, Raminfo Limited (BSE - RAMINFO / 530951 / INE357B01022), a well-established e-Governance and Technology Solutions provider with over 29 years of legacy, announced today that its Board of Directors has given the approval for raising funds up to Rs. 62 crores.

The funds raised are planned to be deployed towards Organization Development, Leadership Expansion, National and International Expansion to diversify revenue composition.

Furthermore, Raminfo Limited aims to meet the growth and future requirements of funds, and investments in its subsidiaries/associates/joint ventures engaged in niche businesses offering technology, IT infrastructure and digital offering platforms.

"This strategic move is geared towards diversifying the service portfolio and expanding geographical reach to improve margin and sustained growth of the company." Srinath Reddy, Managing Director of Raminfo, stated.

He added that the infusion of funds will further help develop a robust pipeline of orders, augment growth in services and creating value for its shareholders and onboard marque shareholders, fortifying the company's financial strength.

This preferential issue is as per SEBI ICDR Regulations and 1s subject to shareholders approval.

Shares of RAMINFO LIMITED was last trading in BSE at Rs. 144.05 as compared to the previous close of Rs. 147.05. The total number of shares traded during the day was 54345 in over 556 trades.

The stock hit an intraday high of Rs. 148.80 and intraday low of 140.00. The net turnover during the day was Rs. 7904808.00.

Source : Equity Bulls

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RAMINFO INE357B01022 FundRaising