Ramco Systems gains as company may raise Rs 300 cr through QIP

MUMBAI: Shares of Ramco Systems gained as much as 16.8 per cent in intraday trade on Thursday as it plans to raise funds through Qualified Institutional Placements (QIP).

The stock ended up 12.63 per cent or Rs 79 at Rs 704.5.

The company is launching QIP issue to raise Rs 300 crore. The QIP issue size is said to be between 47.24-51.18 lakh shares, sources told ET Now. The QIP issue may result in equity dilution of 19.4-21 per cent for the company.

QIP issue is priced at Rs 635/share, added sources.