Ramco Systems rights issue of Rs 123 crore to open on May 5

Ramco Systems Ltd has announced that its rights issue for Rs 123.35 crore would be opening on May 5, 2014 and would close on May 19. The issue size is 79,58,293 equity shares that a face value of Rs 10 each, with one equity share for every two fully paid up equity shares of Rs 10 each held as on the record date and the rights issue price Rs 155 per rights equity share. The premium per share is fixed at Rs 145 per equity share. The decision was taken in a meeting of the Rights Issue, 2013, Committee of the Board of Directors held on Wednesday.