Ramco Systems Board approves Rights Issue to raise Rs 40 crores

Ramco Systems Ltd has announced that the Board of Directors of the Company at its meeting held on August 02, 2010, inter alia, have considered and approved the proposal for raising further capital by issue of equity shares on a rights basis for an amount not exceeding Rs. 40 Crs.

The Board has also constituted a Rights issue 2010 Committee and delegated necessary powers to this Committee to decide about the terms and conditions and other modalities of the Rights Issue.

The stock closed the day at Rs.113.70, down by Rs.0.45 or 0.39%. The stock hit an intraday high of Rs.116.50 and low of Rs.113.

The total traded quantity was 6697 compared to 2 week average of 7323.

Source : Equity Bulls

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