Ramco issues one warrant for 2 rights share held
Ramco Systems on Thursday said it will issue one detachable warrant for every two shares alloted in its Rs 130.55 crore rights issue.
By PTI |
MUMBAI: Enterprise solutions and services provider Ramco Systems on Thursday said it will issue one detachable warrant for every two shares alloted in its Rs 130.55 crore rights issue.
The board of directors has approved the warrant exercise price of Rs 85 per equity share, taking the total amount for all the warrants to Rs 65.27 crore, Ramco Systems said in a filing to the Bombay Stock Exchange.
The company would issue one detachable warrant for every two rights equity shares alloted to shareholders, which is convertible into one equity share at the option of the warrant holders, the filing said.
Warrant holders can exercise it from and up to 18 months from the date of allotment of warrants, it added.
Last week, the board had approved the rights issue of Rs 130.55 crore, under which the company issued one rights share for each share held.
Shares of Ramco Systems closed at Rs 98, up 0.10 per cent on the BSE.
The board of directors has approved the warrant exercise price of Rs 85 per equity share, taking the total amount for all the warrants to Rs 65.27 crore, Ramco Systems said in a filing to the Bombay Stock Exchange.
The company would issue one detachable warrant for every two rights equity shares alloted to shareholders, which is convertible into one equity share at the option of the warrant holders, the filing said.
Warrant holders can exercise it from and up to 18 months from the date of allotment of warrants, it added.
Last week, the board had approved the rights issue of Rs 130.55 crore, under which the company issued one rights share for each share held.
Shares of Ramco Systems closed at Rs 98, up 0.10 per cent on the BSE.
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