Everonn Systems India Limited IPO receives 131.11 times subscription

The Initial Public Offering (IPO) of Everonn Systems India Limited has received overwhelming response from investors with the issue receiving 131.11 times subscription resulting in a huge oversubscription of 130.11 times.

The company's IPO opened for subscription on July 05, 2007 and closed today - July 11, 2007.

The company issued shares of Rs.10 each at a price band of Rs.125/- to Rs.140/- There have been comparison of this company with Educomp Solutions Ltd which came out with IPO last year and gave huge returns to investors on listing.

As on 11-Jul-2007 19:00:00 IST, Everonn Systems India Limited has received total bids for 524431750 equity shares against the offer of 4000000 shares. The issue has received bids for 165511100 shares at Cut-off price.

Source : Equity Bulls

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