High response for Everonn India IPO

Chennai, July 12 (UNI) Everonn Systems India Ltd has received tremendous response for its IPO of equity shares of Rs ten each at a premium with a price band from Rs 125 to Rs 140 per equity share aggregating to Rs 5,000 lakh.

The issue, which was open for subscription from July five to July 11, this year had been over subscribed by 131 times, a company release here today said.

The issue had received good response with the qualified institutional buyers' portion being oversubscribed by more than 92 times, while the retail and non-institutional portions were subscribed more than 124 times and 278 times, respectively on the last day of the issue at the lower end of the price band.

Everonn Systems had embarked an expansion project to be funded by IPO proceeds and internal accruals, the release added.

UNI