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Wednesday, September 13, 2006

Everonn Sytems IPO likely to hit capital markets

Everonn Sytems has decided to make a public issue of its 50 million equity shares of Rs 10 each, issued for cash.

Further, the company has decided to compulsorily allot at least 50% of the net issue to the public, to qualified-institutional investors (QIBs) on a proportionate basis, of which 5% would be reserved for mutual funds.

Not less than 15% of the net issue to the public would be available for allocation on a proportionate basis to non-institutional bidders, while at least 35% would be allocated to retail investors, subject to valid bids received at or above the issue price.

Centrum Capital is acting as leading book runner to the issue. Cameo Corporate Services is the registrar to the issue.


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