Everonn Systems India Limited IPO closes today, receives 9.57 times subscription

The Initial Public Offering (IPO) of Everonn Systems India Limited closes for subscription today - Wednesday, July 11, 2007. The IPO opened for subscription on July 5, 2007.

The company is issuing shares of Rs.10 each at a price band of Rs.125 to Rs.140 through 100% book building process.

The issue has already evoked good response from investors by receiving 9.57 times subscription. The IPO has received bids for 38271650 shares against the offer of 4000000 shares. The issue has also received bids for 14880350 shares at Cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has already received bids for 21458100 shares against the offer of 2000000 shares resulting in a subscription of 10.7291 times.

The Non Institutional Investors portion of the issue received subscription of 1.2607 times with bids for 756400 shares against the offer of 600000 shares. The Retail Individual Investors (RIIs) portion of the issue has received bids for 16057150 shares against the offer of 1400000 shares resulting in a subscription of 11.4694 times.

Source : Equity Bulls

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