Ramco Systems has gained around 2% after the company set its rights issue price at Rs 155 apiece. The shares are trading at Rs 200, higher by Rs 3.7 or 25 on the BSE.
The software services provider will allot 79.58 lakh shares through rights issue in a ratio of one equity share for every two fully paid-up equity shares of Rs 10 each held as on the record date. The rights issue will open for subscription on May 5 and close on May 19, 2014.
The issue closing date may, however, be extended by the committee to an extent that the issue remains open for a period not exceeding 30 days from issue opening date.
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