Ramco Systems advances on plans of raising Rs 500 crore this year

09 Feb 2015

Ramco Systems is currently trading at Rs. 517.95, up by 0.75 points or 0.15 % from its previous closing of Rs. 517.20 on the BSE.

The scrip opened at Rs. 518.00 and has touched a high and low of Rs. 524.00 and Rs. 506.30 respectively. So far 4573 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 555.80 on 05-Feb-2015 and a 52 week low of Rs. 152.60 on 19-Feb-2014.

Last one week high and low of the scrip stood at Rs. 555.80 and Rs. 442.05 respectively. The current market cap of the company is Rs. 1260.38 crore.

The promoters holding in the company stood at 69.36 % while Institutions and Non-Institutions held 6.48 % and 24.16 % respectively.

Ramco Systems is planning to raise around Rs 500 crore through issue of equity shares this year. The software firm will utilise this fund to repay all of its outstanding debt and use the remaining for marketing and brand building activities. The company’s debt was at around Rs 280 crore in the quarter ended December 31, 2014.

The company in 2013 had raised around Rs 123 crore that was utilised for branding and marketing operations as well as to retire some of its debt.

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.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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