Ramco Systems gains as board to mull fund raising on 22 Dec

Ramco Systems rose 1.94% to Rs 257.60 after the company said its board will consider fund raising on Thursday, 22 December 2022.

In an exchange filing the company said, the Board of Directors of the company will be held on Thursday, December 22, 2022, inter‐alia to consider the matter pertaining to proposal for raising of funds by way of issue of equity shares and / or Warrants convertible into equity shares through preferential issue, private placement, or through any other permissible mode or any combination thereof, subject to receipt of Regulatory / Statutory / Members approvals, as may be required.

Ramco Systems develops Enterprise Resource Planning (ERP) Software solutions for various verticals in various domains like, core ERP, human resource & payroll, aviation maintenance repair & overhaul, logistics, service resource planning and provides these with related solutions and services, including managed services.

The company reported consolidated net loss of Rs 60.32 crore in Q2 FY23 as compared to Rs 12.90 crore in Q2 FY22. Net sales declined 15.7% year on year to Rs 118.59 crore in Q2 FY23.

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