Ramco Systems, an enterprise software company, witnessed a rise in share price on Thursday after it has raised capital around USD 52 million (Rs 3.25 billion) through Qualified Institutional Placements (QIP).

The fresh infusion of funds is aimed at retiring a substantial portion of debts supporting operational expenses to attract the right talent and enhancing marketing efforts in global markets.

 With entrprise cloud market touted to be among the fastest growing segments, Ramco has been investing in expanding and building capabilities to address global needs. Leading global and building capabilities to global needs. Leading global and domestic institutional players have picked up stake in the company through this QIP. Ramco believes that raising funds at current valuation levels would be in the long term interests of the company and would allow the company to deleverage. Consequent to QIP, public shareholding of Ramco shares has increased from 30.9% to 42.9%.

Shares of the company are trading at Rs 593, down Rs 9, or 1.50% at the Bombay Stock Exchange (BSE) on Thursday at 3:09 p.m.

The scrip has touched an intra-day high of Rs 621.75 and low of Rs 585.25. The total volume of shares traded at the BSE is 6,688.