Everonn Systems fixes issue price at Rs 140/share
The company had entered the capital market to raise Rs 50 crore via 100% book building process, the price band was fixed at Rs 125-140 per share.
By INDIATIMES NEWS NETWORK |
MUMBAI: Everonn Systems India has fixed the issue price of its initial public offering at Rs 140 per share. The company is likely to be listed on the stock exchanges in the first week of August.
The company had entered the capital market to raise Rs 50 crore via 100% book building process, the price band was fixed at Rs 125-140 per share.
The IPO was subscribed 131.47 times. The qualified institutional buyers portion was subscribed 92.94 times. Foreign institutional investors bid for 8.51 crore shares and domestic financial institutions for 6.62 crore. Mutual funds bid for 2.83 crore shares.
Non-institutional investors subscribed 277 times at 16.66 crore bids against 6 lakh shares reserved for them.
The retail portion was subscribed 123 times, having received 17.33 crore bids against a reservation of 14 lakh shares.
Everonn Systems is a fully integrated knowledge management, education and training company that offer services like creating globally relevant educational training content, designing and executing learning initiatives.
The company will use the proceeds of the issue for capital expenditure in its two strategic business units -institutional education & IT infrastructure services, and virtual & technical enabled learning solutions.
It will also utilise the proceeds for mergers & acquisitions, investing in the proposed subsidiary to retail educational aids, tools and other products.
The shares of the company will list on the Bombay Stock Exchange and National Stock Exchange.
The company had entered the capital market to raise Rs 50 crore via 100% book building process, the price band was fixed at Rs 125-140 per share.
The IPO was subscribed 131.47 times. The qualified institutional buyers portion was subscribed 92.94 times. Foreign institutional investors bid for 8.51 crore shares and domestic financial institutions for 6.62 crore. Mutual funds bid for 2.83 crore shares.
Non-institutional investors subscribed 277 times at 16.66 crore bids against 6 lakh shares reserved for them.
The retail portion was subscribed 123 times, having received 17.33 crore bids against a reservation of 14 lakh shares.
Everonn Systems is a fully integrated knowledge management, education and training company that offer services like creating globally relevant educational training content, designing and executing learning initiatives.
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The company will use the proceeds of the issue for capital expenditure in its two strategic business units -institutional education & IT infrastructure services, and virtual & technical enabled learning solutions.
It will also utilise the proceeds for mergers & acquisitions, investing in the proposed subsidiary to retail educational aids, tools and other products.
The shares of the company will list on the Bombay Stock Exchange and National Stock Exchange.
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