Comments on: Everonn Systems India Limited IPO

By: Prasad

Prasad — Thu, 26 Jul 2007 09:45:27 +0000

Guys ,

Today is 26th July and there has been no news for allotment of Everonn. WHen is the confirmed date for Allotment.

By: Akkbatra

Akkbatra — Sat, 21 Jul 2007 23:01:38 +0000

Everonn allotment is expected on 24th july tuesday and probable listing date is 2nd August thursday. All the best to all for allotment.

By: raj

raj — Sat, 21 Jul 2007 12:48:47 +0000

when everonsystem allotment is going to happen …. how they are assigning.. what is the listing date

By: Atul divecha

Atul divecha — Wed, 18 Jul 2007 04:52:14 +0000

Spice communication will be listed on “24-Jul-2007″

By: Amit Kumar

Amit Kumar — Mon, 16 Jul 2007 10:55:01 +0000

What is the listing date of Spice Communication IPO?

By: Sarfraz Ahmad

Sarfraz Ahmad — Mon, 09 Jul 2007 12:50:36 +0000

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.

By: @Bobby

@Bobby — Mon, 09 Jul 2007 10:20:47 +0000

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)

By: Bullish Indian

Bullish Indian — Sun, 08 Jul 2007 13:48:37 +0000

@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.

By: Bullish Indian

Bullish Indian — Sun, 08 Jul 2007 13:39:04 +0000

@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.

By: Balaji

Balaji — Sun, 08 Jul 2007 10:42:17 +0000

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.

By: VIRAJ

VIRAJ — Sun, 08 Jul 2007 08:52:13 +0000

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.

By: VIRAJ

VIRAJ — Sun, 08 Jul 2007 08:49:01 +0000

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 .

By: Vinoy

Vinoy — Sat, 07 Jul 2007 02:42:18 +0000

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.

By: Mehul Jamod

Mehul Jamod — Fri, 06 Jul 2007 12:00:44 +0000

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,

By: Malu

Malu — Fri, 06 Jul 2007 11:30:46 +0000

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.