Everonn Systems to list Wednesday

MUMBAI: Everonn Systems India Ltd, issue price of which was fixed at Rs 140 per share, will list on the boursesWednesday.

The company had entered the capital market to raise Rs 50 crore. The 100% book build IPO was subscribed 131.47 times. The shares were offered in the price band Rs 125-140 per share.

Qualified institutional buyers portion was subscribed 92.94 times, non-institutional investors portion was subscribed 277 times and retail portion 123 times.

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.

Everonn will also utilise the proceeds for mergers & acquisitions, investing in the proposed subsidiary to retail educational aids, tools and other products.