Ramco Systems gains on raising $52 million through QIP

07 May 2015

Ramco Systems is currently trading at Rs 603.25, up by 1.25 points or 0.21% from its previous closing of Rs 602.00 on the BSE.

The scrip opened at Rs. 601.75 and has touched a high and low of Rs. 621.75 and Rs. 598.25 respectively. So far 5171 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 747.00 on 19-Mar-2015 and a 52 week low of Rs. 156.25 on 16-May-2014.

Last one week high and low of the scrip stood at Rs. 658.00 and Rs. 598.00 respectively. The current market cap of the company is Rs. 1816.65 crore.

The promoters holding in the company stood at 69.18% while Institutions and Non-Institutions held 7.68% and 23.14% respectively.

In a bid to fight the mighty Goliaths of ERP, India-headquartered Enterprise Cloud Software Company, Ramco Systems has raised capital around $52 million through Qualified Institutional Placements (QIP). The company which recently published its unaudited financial results for FY 2015, had announced net profit after tax of $2.09 million for the year on a consolidated basis. The fresh infusion of funds is aimed at retiring a substantial portion of debts, supporting operational expenses to attract the right talent and enhancing marketing efforts in global markets.

With Enterprise Cloud market touted to be among the fastest growing segments. Ramco has been investing in expanding and building capabilities to address global needs. Leading global and domestic institutional players have picked up stake in the company through this QIP.

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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