Everonn Systems to be listed on bourses

Chennai, July 31 (UNI) Everonn Systems India Ltd, a fully integrated education and learning Solutions company, will be listed on the Bombay Stock Exchange (BSE) tomorrow.

The issue constituted 25.79 per cent of the fully diluted post issue paid up equity share capital of the company, a company release here said today.

The company had entered the capital market on July five, 2007 with a public issue of equity shares of face value of rupees ten each, for cash at a premium of Rs 130 per share aggregating Rs 50 crore.

The issue had received remarkable response from investors and was over subscribed 131 times at close of the issue on July 11, 2007.

The QIB portion was subscribed more than 92 times, Non Institutional portion 278 times and Retail Individual Investors 124 times.

Everonn Systems had budgeted an outlay of Rs 3,000 lakh for IT Infrastructure Services.

The company plans to expand their operations close to 1000 schools every year.

The company would allocate Rs 1,725 lakh from their IPO proceeds towards capital expenditure for Virtual and Tech Enabled Learning Solutions, the release added.

UNI