Everonn Systems IPO ends with 124.22 times subscription

The IPO received total bids for 49.68 crore shares from the total issue of 40 lakh shares. (17:00 IST)

Yesterday (10 July 2007), 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 and 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 3.03 times on day 2

On second day of Simplex Projects IPO the issue was 3.03 times subscribed. The IPO received total bids for 90.84 lakh shares from total issue size of 30 lakh shares. (17:00 IST)

Yesterday (10 July 2007), The total bids in the Qualified Institutional Buyers (QIBs) were 23.99 lakh shares, which were bid by Foreign Institutional Investors (FIIs). There were no bid by the Domestic Financial Institutions and the Mutual Funds in the issue.

There were no bids by the Non Institutional Investors. The Retail Investors bid for 14.85 lakh shares, of which 14.22 lakh shares were bid at cut-off price and 63,210 were bid at fixed price.

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.






Alpa Laboratories IPO opens on 12 July 2007

Alpa Laboratories will enter the capital market with a public issue of 95 lakh equity shares of Rs 10 each for cash at a premium to be decided through 100% book building process.

The price band for the issue has been fixed at Rs 62 - 68 a share. The issue opens for subscription on 12 July 2007 and closes on 17 July 2007. The IPO has minimum lot size of 100 shares.

The company intends to deploy the issue proceeds to part-finance the setting up of a new plant in Madhya Pradesh. The plant is being set up at a cost of Rs 70.88 crore.

The company also plans to widen product range by foraying into probiotics, prebiotics and pre-filled syringes. It will also expand contract manufacturing activities to include large multinational companies.

The expansion project will be financed through a term loan of Rs 20 crore, promoters’ contribution of Rs 3 crore and balance from the IPO.







Omaxe IPO opens on 17 July 2007

Real estate developer Omaxe has fixed its initial public offering (IPO) price band at Rs 256-310 per share. The IPO will open on 17 July 2007 and close on 20 July 2007.

The company would raise about Rs 550 crore at the upper band, much lower from its earlier target to raise up to Rs 1,400 crore.

From the total issue size, up to 1.75 crore equity shares are for the public, while the balance 2.96 lakh shares are reserved for eligible employees of the company. Additionally, there would be a green shoe option of 17.5 lakh equity shares.

The issue would constitute 10.30% of the fully diluted post-issue paid-up capital of the company, excluding the green shoe option.

The company has a presence in 30 cities and nine states and it plans to deploy the IPO proceeds for payments related to land, repayment of loan and for meeting development and construction costs.

The company has a land bank of over 3,000 acre and at present 47 projects are under development.