On February 1, 2023, Ramco Systems Limited closed the transaction. The company has issued 4,379,561 equity shares at a price of INR 274 for gross proceeds of INR 1,199,999,714 and 1,459,854 convertible equity warrants at a price of INR 274 per convertible warrants for gross proceeds of INR 39,9999,996, of which 25% will be received at the time of allotment and remaining 75% will be received at the time of exercising the warrants, for total gross proceeds of INR 1,599,999,710 on February 1, 2023. The transaction included participation from returning investor Ramco Industries Limited for 1,642,335 shares and 2.44% stake, new investor Atyant Capital India Fund - I, a fund managed by Atyant Capital Management for 1,368,613 shares for 3.89% stake and new investor Vanderbilt University for 1,368,613 shares and 3.89% stake and individual investor P R Venketrama Raja for 1,459,854 convertible equity warrants.