Everonn Systems India ended at Rs 478.45 on BSE, a premium of 241.75% over the IPO price of Rs 140.

The Everonn Systems India scrip debuted at Rs 245. It touched a high of Rs 560 and a low of Rs 245, so far during the day.

On BSE, 71.77 lakh shares of the scrip were traded.

The company had fixed the issue price at the top end of the Rs 125-Rs 140 price band. The IPO received total bids for 52.58 crore shares compared to total issue of 40 lakh shares

At the current price of Rs 478.45, the PE mutiple works out to 136.7, based on year ended March 2007 EPS of Rs 3.5.

Everonn Systems India is a fully integrated knowledge management, education and training company that offers services like creating globally relevant educational training content, designing and executing learning initiatives.

The company intends to deploy the proceeds of the IPO for capital expenditure in its two strategic business units:institutional education and IT infrastructure services, and virtual and technical enabled learning solutions.

The company has entered into an agreement with Hughes Communication India as lead partner for supporting the company in developing business for remote education and training through satellite broadband technologies.

India China Pre IPO Equity (Mauritius), a fund management company, invested Rs 14.06 crore in Everonn last year by subscribing to 13.27 lakh equity shares of Rs 10 each at a premium of Rs 96 per share.

Everonn Systems India had reported a net profit of Rs 4.86 crore on operating income of Rs 43.04 crore in the year ended March 2007.