Ramco Industries Ltd to invest in Ramco Systems Ltd

The Board of Directors of Ramco Industries Ltd at its Meeting held today (22.12.2022) approved the proposal for subscription to 16,42,335 equity shares under the Preferential Issue of M/s. Ramco Systems Limited (RSL) at an issue price of Rs.274/- per share for an aggregate amount not exceeding Rs.45 Crores.

The Company presently holds 54,67,376 shares in RSL representing 17.74% of their Paid up Share Capital. Post subscription to the Preferential Issue the Company would be holding 71,09,711 shares representing 19.39% (post allotment of equity shares/conversion of warrants into equity shares by RSL) of their Paid up Share Capital.

Shares of Ramco Industries Limited was last trading in BSE at Rs. 156.70 as compared to the previous close of Rs. 157.60. The total number of shares traded during the day was 15258 in over 779 trades.

The stock hit an intraday high of Rs. 161.95 and intraday low of 152.15. The net turnover during the day was Rs. 2363141.00.

Shares of Ramco Systems Limited was last trading in BSE at Rs. 260.75 as compared to the previous close of Rs. 261.05. The total number of shares traded during the day was 15800 in over 1091 trades.

The stock hit an intraday high of Rs. 264.25 and intraday low of 250.10. The net turnover during the day was Rs. 4056115.00.

Source : Equity Bulls

Keywords

RamcoIndustries INE614A01028 RamcoSystems INE246B01019 Investment