Software products and services provider Ramco Systems has inked a deal with Dubai-based trading and manufacturing group Tradeline in order to provide IT solutions on HCM and payroll management.

Under the contract, Ramco HCM and payroll solutions will amalgamate the operations of various business entities within the Tradeline group by offering up centralized payroll processing potentialities to the group companies that will help streamlining the HR process across all the business divisions of the firm.

But, no financial details of the pact were provided thus far.

Ramco Systems Ltd has declared that the Allotment Committee of the Board of Directors of the Company at its meeting held on April 30, 2010, has sanctioned an allotment of 12,420 equity shares of Rs 10/- each, being the exercise of the equity stock options by the employees of the Company under the Employee Stock Option Scheme, 2008, (ESOS 2008).

Consequent to this the paid up equity share capital has come up from 15,374,201 equity shares of Rs 10/- each to 15,386,621 equity shares of Rs 10/- each. (With Inputs from Agencies)