Everonn Systems IPO subscribed 9.57 times on day 4

On fourth day of Everonn Systems IPO, the issue was 9.57 times subscribed. The IPO received total bids for 3.82 crore shares from the total issue of 40 lakh shares.

The total bid in the Qualified Institutional Buyers (QIBs) category were 2.14 crore shares. In the category, the Domestic Financial Institutions bid for 1.43 lakh shares. The Foreign Institutional Investors (FIIs) bid for 1.88 crore shares. The Mutual Funds bid for 15.28 lakh shares.

The Non Institutional Investors bid for 7.56 lakh shares. The retail investors bid for 1.60 crore shares, of which 1.48 crore shares were bid at cut off price and 12.54 lakh shares were bid at fixed price.

The price band is set between Rs 125 and Rs 140 per share of Rs 10 each. The issue would close on 11 July 2007.

Everonn Systems 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 issue for capital expenditure in its two strategic business units--institutional education & IT infrastructure services, and virtual & technical enabled learning solutions.

It will also utilise the proceeds for mergers & acquisitions, invest in the proposed subsidiary to retail educational aids, tools and other products.

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 broad band 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.






Simplex Projects IPO subscribed 1.3 times on day 1

On first day of Simplex Projects IPO the issue was 1.3 times subscribed. The IPO received total bids for 38.85 lakh shares from total issue size of 30 lakh shares.

The Kolkata-based firm has set a price band between Rs 170 - 185 a share. The IPO will close on 13 July 2007.

The funds will be used for long-term working capital and to acquire plant and machinery.

Simplex posted a net profit of Rs 10.49 crore for the year ended March 2007, on sales of Rs 135.76 crore.

Simplex specialises in piling and foundation, civil construction and transportation engineering projects.





Muted debut from Ankit Metal & Power

Ankit Metal & Power settled at a premium of 2.63% at Rs 36.95 on BSE on its debut on the bourses today compared to the IPO price of Rs 36.

On BSE, 1.72 crore shares were traded on the counter.

The stock debuted at Rs 37.90. The scrip touched a high of Rs 38.40 and a low of Rs 36.50.

The current market price of Rs 36.95 discounts its FY 2007 EPS of Rs 3.21, by a PE multiple of 11.51.

Ankit Metal & Power entered the capital market with an initial public offer of 95.90 lakh equity shares on 18 June 2007. The issue closed on 22 June 2007.

The 100% book building issue had a price band of Rs 30 - Rs 36 per share. The IPO closed with 1.58 times subscription. It received total bids for 1.51 crore shares compared to the issue size of 95.90 lakh shares.

The company's net profit rose 202.9% to Rs 10.54 crore in the year ended March 2007 (FY 2007) compared to Rs 3.48 crore in the year ended March 2006. Sales were up 230.9% to Rs 209.94 crore in FY 2007 as against Rs 63.43 crore in FY 2006.

Kolkatta-based Ankit Metal and Power manufactures sponge iron, steel billets and re-rolled products.