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Raja Simhan T.E.

Mr P.R. Venketrama Raja, Vice-Chairman, MD and CEO

Chennai , Aug. 5

RAMCO Systems Ltd is gearing up to take Ramco VirtualWorks to the global market in a big way, according to Mr P.R. Venketrama Raja, Vice-Chairman, Managing Director and CEO.

This fiscal should see a lot of momentum with VirtualWorks. Many of the implementations have gone live and the next round of customers are evaluating the technology, he told Business Line.

According to Mr Raja, "We have the right technology, which has not been offered so far in the market. Now it is time to adopt the right strategy to take it to the global market in a big way. We have penetrated tier-one accounts and it has yielded results.

However, they are yet to translate into large contracts. We are working out various strategies. How to accelerate is a problem that we are trying to solve," he said, without elaborating on the strategies.

Ramco is putting in place a global team for sales and marketing and execution of VirtualWorks, which is a virtual software factory that allows organisations to address their unique and next practices over and above the standard best practices. The Chennai-based company, which has around 1,900 employees, has been adding domain experts in areas such as aviation, manufacturing, logistics and e-governance, he said.

The company said that it would raise Rs 64.49 crore through issue of equity share on rights basis.

This is to take forward the company's initiatives to establish a strong global presence for adaptive enterprise solutions powered by Ramco VirtualWork. The company's board approved a proposal to issue 30.70 lakh shares of Rs 10 each for cash at a premium of Rs 200 per equity share on rights basis to the existing shareholders in the ratio of one equity share for every four equity shares held aggregating Rs 64.49 crore.

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