Ramco Systems Board Rights Issue- Ratio 3:2
By TMI | July 23, 2008
Ramco Systems Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 23, 2008, inter alia, has decided to raise further capital by Issue of equity shares on a rights basis for an amount upto Rs 173 Crores. The Rights Issue would be at an issue price of Rs 75/- per share including a premium of Rs 65/- per share, to be offered in ratio of Three rights equity shares for every Two equity shares (3:2) held as at the record date to be fixed in compliance with the applicable formalities in this regard. The Board has also constituted a Committee and delegated the necessary powers to the Committee to decide about the modalities of the rights issue.
Brief details of the Rights issue:
- No. of rights shares to be offered : About 23,036,979 equity shares
- Face Value per share : Rs 10/-
- Premium per share : Rs 65/-
- Ratio : 3:2 (Three Rights Equity Shares for every Two shares held as at the record date)
- Amount to be raised : Upto Rs 173 Crores.
Topics: Corporate Actions |
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