Everonn to invest Rs 30 cr for schools, college projects

Kolkata, Jun 26 (UNI) Everonn Systems India Limited, a Chennai based learning solutions company, will invest Rs 30 crore to create infrastructure for its schools and college projects across the country.

Speaking to mediapersons, Everonn Systems Managing Director Kishore Padmanabhan said that the company is working closely with 555 schools in Bengal to create IT infrastructure for 555 schools.

''We are also working with 1,252 schools in across the country and 1900 colleges,'' he said.

The company would go to the market to raise Rs 50 crore. Around Rs 17 to 25 crore would be invested to create studios and virtual class rooms. The company would invest Rs 8 crore for acquiring content companies.

The IPO would open on July 5 and close on July 11. The issue would be done through 100 per cent book building process and the price band would be fixed at Rs 125 to Rs 140 crore.

UNI