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CHENNAI: Ramco Systems Ltd on Monday said it
would raise Rs 75 crore through a rights issue to fund its
growth plans.
The board of directors of the company, who met here, has
decided to raise further capital by issue of equity shares on
rights basis for an amount not exceeding Rs 75 crore, the
Chennai-based company informed the stock exchanges.
The board had also constituted a Committee and delegated
necessary powers to it to decide about the size, time, basis
of offer, premium and other modalities of the proposed rights
issue.
A company official said the rights issue would be mainly for
funding its expansion plans. - PTI
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