Ramco Systems to raise over Rs 123 crore through Rights Issue

Ramco Systems, the Chennai-based company, is eyeing to raise over Rs 123 crore by offering shares to existing investors. The company will offer about 79.58 lakh shares through the rights issue in a ratio of one equity share for every two held as of the record date of April 23. Each share with a face value of Rs 10 will be offered at Rs 155. The rights issue will open on May 5 and close on May 19. The issue closing date may be extended provided the offer period does not exceed 30 days. The company is increasing focus on enterprise cloud platform, products and services as well as increasing its marketing presence globally. Ramco Systems is a leading software company focused on consulting, product and managed services business. The company focuses on providing innovative business solutions that can be delivered quickly and cost-effectively in complex environments.