01 Jul 07 Everonn Systems India Limited IPO
Everonn Systems India Limited, a Chennai based knowledge management and training company, is coming out with an IPO through the book building process. Everonn Systems IPO will open for subscription on 5th July 2007 and will close for subscription on 11 July 2007. Everonn Systems India Limited has fixed the price band for the IPO between Rs. 125 and Rs. 140 per share. As per the DRHP, Everonn Systems India Limited will use the proceeds of the IPO for expansion of two of its business units and to build a war chest for mergers and aquisitions. Everonn Systems India Limited had recently raised about Rs. 14 crores at Rs. 96 per share through a pre IPO placement. Post IPO, the shares of Everonn Systems India Limited will be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The lead manager for the Everonn Systems IPO is Centrum Capital Limited. The registrar for the Everonn Systems IPO is Cameo Corporate Services Limited. For updates on the subscription / oversubscription ratio of Everonn Systems Ltd IPO and to know the IPO allotment status, refund details and listing date of Everonn Systems IPO, do check this blog regularly.
Everonn Systems India IPO Prospectus
For more information, read the Draft prospectus of the Everonn Systems India IPO Issue.
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is the business model similar to educomp?
Its a very good ipo, just like Vishal, one will definatly get 200% return. i bet.
Hi i m also wanting to know whtr it will give good returns like educomp did?
I am planning to invest 21000 (ie 150 shares)in Everonn Systems.
I have 3 accounts with me. Shall i apply for 150 share in one account or 50 each in 3 accounts.
@Malu – I would go for 150 shares in a single account
I heard that in vishal the person who applied for 1 lot and person applied for maximum lot got only one 1 lot. In that case it will be better to go for many accounts right ?
I have no idea about the allocation of shares in Everonn.
And one more thing if i get allotment will it be less than 50 shares in any case for Everonn.
Hi,
i am new to this market but i had applied 25 shares for Vishal but i didnt any.
Should i invest in this IPO???
Min how much should i apply to get around 20% profit????
Thanks,
It’s really unpredictable market, as some big traders always influence the market. We know about K10 etc. But you never know what’s in the cards, lesser known companieas are making it big. So just keep your fingure cross.
I HAVE 2 DEMAT A/CS. IS IT POSSIBLE TO APPLY FOR EVERONN ON BOTH A/CS. AS BOTH A/CS ARE ON MY NAME .
7:APPLY FOR MAX. AS SUBSCRIPTION IS MORE THAN 80%.IF U APPLY FOR MAX. THAN U WILL GET 1/3RD OR EVEN LESS THAN IT.
hi,
Can anyone tell me about the % of chance of getting the share if i apply for 3 lots of everonn IPO?
Is it like, only if we apply for more amount(say 1 lak), you will get chance of allocation else if you apply for 1 lot, you will not get that allotment atall/they will not consider the 1 lot subscriptions if the IPO was over subscribed???
Thanks in advance…
Balaji.
@malu – yes in vishal person who applied for 1 lot or many lots got the same allotment. However the probability of getting allotment for the person who applied for 1 lot is very very low compared to the person who applied for the maximum lots.
@VIRAJ – No you cant use two different demat accounts in the same name to apply in an IPO. This will be treated as fraud and you will loose allotment in both the applications.
Hi Friends,
Want to know much about this company do any body have an idea about the company, what they are into !!
Appreciate for your quick response.
~ybboB(Bobby)
On the footsteps of Educomp Solutions
Everonn Systems India is entering the capital market on 5th July 07 with a public issue of Rs.50 crores in the price band of Rs.125 to Rs.140 per share. At the upper band, issue would comprise of 35.70 lakh equity shares.
For FY 07, the company recorded a sales of Rs.43.04 crores, EBITDA of Rs.17.63 crores, PAT of Rs.4.86 crores on equity of Rs.10.28 crores, resulting in an EPS of Rs.4.72.
The company is now expanding its institutional education and IT infrastructure services as also for Virtual and Tech enabled learning solutions and total fund requirement is estimated at Rs.66.06 crores. This is largely met from equity issue, of which Rs.14.06 crores preferential allotment having made in August 2006 at Rs.106 per share.
The company would bid for BOOT projects to set up and run computer education centres across government schools. These contracts are funded out of government budgetary allocations made from Sarva Sikhsha Abhiyan and ICT schools and company plans to add 1,000 schools every year. The company has signed an MoU with West Bengal government to take up IT education in 555 schools and have in turn signed MoU with 146 schools of which 96 schools are made operational. The company has also got 216 schools in Karnataka under the ICT project for such schools.
The company needs to supply all hardware, software and reading materials to the school for which lease/royalty for 6 years is charged by the company. At the end of 6 years, hardware is transferred to the school, free of cost. One school needs an investment of about Rs.4 lakh and the company had estimated requirement of Rs.30 crores for 750 schools. Also, working capital cycle is very high and payment is coming after 180 days. Due to this, the sundry debtors of the company was at Rs.27.97 crores on 31-03-07 on topline of Rs.43.04 crores. A cycle of about 8 months. As cost of equipments needs to be recovered over 6 years, depreciation and amortization of the company are very high, which was at Rs.8.44 crores for FY 07.
The revenue model of the company is very much comparable with Educomp Solutions, which had sales of Rs.49.86 crores and net profit of Rs.13.13 crores for March 07 quarter. On equity of Rs.16.37 crores, EPS was at Rs.17.30 for FY 07. EBITDA margin was at 47% for FY 07 as well as for Q4 of FY 07.
The EBITDA margin of the Everonn was at 41% for FY 07, which would increase with improvement in the topline. Even expanded equity of Rs.13.85 crores would be very much comparable with Educomp. Fresh infusion of Rs.60 crores would sharply improve the financial performance of the company and it is capable of posting a growth of 40% plus, over next 3 to 4 years.
Considering these facts and performance of Educomp in the secondary market, investment is strongly recommended.
What is the listing date of Spice Communication IPO?
Spice communication will be listed on “24-Jul-2007″
when everonsystem allotment is going to happen …. how they are assigning.. what is the listing date
Everonn allotment is expected on 24th july tuesday and probable listing date is 2nd August thursday. All the best to all for allotment.
Guys ,
Today is 26th July and there has been no news for allotment of Everonn. WHen is the confirmed date for Allotment.