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Everonn IPO Details

Issue Open Jul 5, 2007
Issue Close Jul 11, 2007
IPO Price ₹140
Face Value ₹10
IPO Size ₹50.00 Cr
Listing At BSE, NSE
IPO Lot Size 50

EVERONN SYSTEMS INDIA LIMITED

Registered and Corporate Office: No. 82, IV Avenue, Ashok Nagar, Chennai - 600 083, Tamil Nadu, India.
Tel: +91-044-23718202-03, Fax: +91-044-24717845
Website: www.everonn.com, Email: ipo@everonn.com
Contact person: Mr. A. V. Sridhar - Compliance Officer, Mr. K. V. Viswanathan - Company Secretary

BASIS OF ALLOCATION

PUBLIC ISSUE OF 35,71,430 EQUITY SHARES OF Rs. 10 EACH OF EVERONN SYSTEMS INDIA LTD ('EVERONN' OR THE 'COMPANY' OR THE 'ISSUER') FOR CASH AT A PRICE OF RS. 140 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 130 PER EQUITY SHARE), AGGREGATING TO RS. 5000 LACS. THE ISSUE SHALL CONSTITUTE 25.79% OF THE FULLY DILUTED POST-ISSUE PAID UP CAPITAL OF THE COMPANY.

ISSUE PRICE : RS. 140/- PER EQUITY SHARE OF FACE VALUE OF RS. 10/- EACH. ISSUE PRICE IS 14 TIMES OF THE FACE VALUE
The Issue was being made through the 100% Book Building Process wherein not more than 50% of the Issue to the Public was to be allocated on a proportionate basis to Qualified Institutional Bidders ('QIBs'), (wherein 5% of the QIB portion was to be allocated on a proportionate basis to Mutual Funds only.) Further not less than 15% of the issue was available for allocation (in a proportionate basis to Non-Institutional bidders and not less than 35% of the issue was available for allocation on proportionate basis to Retail Individual Bidders, subject to valid bids being received at or above the Issue Price.
The Issue received 4,21,400 applications for 51,99,00,725 Equity shares resulting in 145.57 times subscription. The details of the applications received in the Issue from Qualified Institutional Bidders, Non-Institutional and Retail Individual bidders are as under (Before Technical Rejections):

Category No. of Applications No. of Shares Subscription
Qualified Institutional Buyers 221 184612050 103.38
Non Institutional Investors 1413 164264100 306.63
Retail Individual Investors 419766 171024575 136.82

Final Demand
A sample of the final demand at different bid prices is as under:

BID PRICE NO. OF SHARES % TO TOTAL CUMULATIVE
TOTAL
CUMULATIVE
% TO TOTAL
125 2789600 0.52 536696700 100.00
126 5750 0.00 533907100 99.48
127 1950 0.00 533901350 99.48
128 6300 0.00 533,899400 99.48
129 1750 0.00 533893100 99.48
130 5249750 0.98 533891350 99.48
131 38000 0.01 528641600 98.50
132 17450 0.00 528603600 98.49
133 659000 0.12 528586150 98.49
134 700 0.00 527927150 98.37
135 3436650 0.64 527926450 98.37
136 2600 0.00 524489800 97.73
137 400 0.00 524487200 97.73
138 78100 0.01 524486800 97.72
139 7400 0.00 524408700 97.71
140 & CUT OFF 524401300 97.71 524401300 97.71.
TOTAL 536696700 100.00

The Basis of Allocation was finalized in consultation with The Bombay Stock Exchange Limited ('BSE') on July 24, 2007.

A. Allocation to Retail Individual Investors (After technical reactions)
The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at and above the Issue Price of Rs. 140/- per Equity Share, was finalized in consultation with BSE. The category was subscribed to the extent of 133.52 times. The total number of shares allotted in this category is 12,50,050 Equity Shares to 25,001 successful applicants. The category-wise details of the Basis of Allocation are as under:

Category No. of Applns % to total Total No. of
Shares Applied
% to total No. Of
Shares
Allocated
Ratio Total No .of
Shares
Allocated
50 42715 10.47 2135750 1.28 50 1:133 16050
100 40738 9.98 4073800 2.44 50 1:67 30500
150 22590 5.53 3388500 2.03 50 2:89 25400
200 25571 6.27 5114200 3.06 50 2:67 38300
250 13371 3.28 3342750 2.00 50 3:80 25050
300 15500 3.80 4650000 . 2.79 50 4:89 34850
350 69278 16.97 24247300 14.53 50 1:19 181600
400 6699 1.64 2679600 1.61 50 3:50 20050
450 2702 0.66 1215900 0.73 50 6:89 9100
500 7302 1.79 3651000 2.19 50 3:40 27350
550 2091 0.51 1150050 0.69 50 6:73 8600
600 3104 0.76 1862400 1.12 50 8:89 13950
650 3068 0.75 1994200 1.19 50 4:41 14950
700 153413 37.59 107389100 64.35 50 2:19 804300

B. Allocation to Non Institutional Investors (After Technical Rejections)
The Basis of Allocation to the Non Institutional investors, who have bid at and above the Issue Price of Rs 140/- per Equity Share, was finalized in consultation with BSE. The category was subscribed to the extent of 303.82 times. The total number of shares allotted in this category is 5,37,199 Equity Shares to 1162 successful applicants. The category-wise details of the Basis of Allocation (Sample) are as under:

Category No.of Applns %to total Total No. of Shares Applied %to total No.of Shares Allocated Ratio Total No .of Shares Allocated
750 158 13.60 118500 0.07 50 4:79 400
800 44 3.79 35200 0.02 50 1:22 100
850 13 1.12 11050 0.01 50 1:13 50
900 38 3.27 34200 0.02 50 1:19 100
950 5 0.43 4750 0.00 50 1:5 50
1000 121 10.41 121000 0.07 50 1:15 400
1050 21 1.81 22050 0.01 50 1:21 50
1100 9 0.77 9900 0.01 50 1:9 50
1150 4 0.34 4600 0.00 50 1:4 56
1200 8 0.69 9600 0.01 50 1:8 50
125.0 7 0.60 8750 0.01 50 1:7 50
1300 1 0.09 1300 0.00 50 FIRM 50
1350 2 0.17 2700 0.00 50 1:2 50
1400 37 3.18 51800 0.03 50 3:37 150
1500 41 3.53 61500 0.04 50 4:41 200
1550 2 0.17 3100 0.00 50 1:2 50
1600 2 0.17 3200 0.00 50 1:2 50
1700 2 0.17 3400 0.00 50 1:2 50
1750 4 0.34 7000 0.00 50 1:4 50
1800 8 0.69 14400 0.01 50 1:8 50
1850 3 0.26 5550 0.00 50 1:3 50
2000 30 2.58 60000 0.04 50 2:15 200
2100 15 1.29 31500 0.02 50 2:15 100
2150 4 0.34 8600 0.01 50 1:4 50
2200 5 0.43 11000 0.01 50 1:5 50
2250 1 0.09 2250 0.00 50 FIRM 50
2400 2 0.17 4800 0.00 50 1:2 50
2500 9 0.77 22500 0.01 50 1:9 50
2750 1 0.09 2750 0.00 50 FIRM 50
2800 5 0.43 14000 0.01 50 1:5 50
2850 3 0.26 8550 0.01 50 1:3 50
2900 1 0.09 2900 0.00 50 FIRM 50
3000 7 0.60 21000 0.01 50 1:7 50
3050 1 0.09 3050 0.00 50 FIRM 50
3250 1 0.09 3250 0.00 50 FIRM 50
3500 19 1.64 66500 0.04 50 4:19 200
3550 15 1.29 53250 0.03 50 4:15 200
3600 13 1.12 46800 0.03 50 3:13 150
3650 1 0.09 3650 0.00 50 FIRM 50
3900 2 0.17 7800 0.00 50 1:2 50
4000 12 1.03 48000 0.03 50 . 1:4 150
4050 1 0.09 4050 0.00 50 FIRM 50
4100 1 0.09 4100 0.00 50 FIRM 50
4250 3 0.26 12750 0.01 50 1:3 50
4300 2 0.17 8600 0.01 50 1:2 50
4400 2 0.17 8800 0.01 50 1:2 50
4600 1 0.09 4600 0.00 50 FIRM 50
5000 15 1.29 75000 0.05 50 1:3 250
5100 2 0.17 10200 0.01 50 1:2 50
5350 1 0.09 5350 0.00 50 FIRM 50
5400 1 0.09 5400 0.00 50 FIRM 50
5500 1 0.09 5500 0.1)0 50 FIRM 50
5550 1 0.09 5550 0.00 50 FIRM 50
5600 1 0.09 5600 0.00 50 FIRM 50
5650 1 0.09 5650 0.00 50 FIRM 50
.5700 1 0.09 5700 0.00 50 FIRM 50
5900 1 0.09 5900 0.00 50 FIRM 50
6000 2 0.17 12000 0.01 50 1:2 50
6100 1 0.09 6100 0.00 50 FIRM 50
6250 1 0.09 6250 0.00 50 FIRM 50
6400 1 0.09 6400 0.00 50 FIRM 50
6550 1 0.09 6550 0.00 50 FIRM 50
6650 1 0.09 6650 0.00 50 FIRM 50
6750 2 0.17 13500 0.01 50 1:2 50
6850 1 0.09 6850 0.00 50 FIRM 50
6900 3 0.26 20700 0.01 50 1:3 50
6950 1 0.09 6950 0.00 50 FIRM 50
7000 14 1.20 98000 0.06 50 3:7 300
7050 2 0.17 14100 0.01 50 1:2 50
7100 13 1.12 92300 0.06 50 6:13 300
7150 7 0.60 50050 0.03 50 3:7 150
7200 1 0.09 7200 0.00 50 FIRM 50
7650 1 0.09 7650 0.00 50 FIRM 50
7800 2 0.17 15600 0.01 50 1:2 50
8000 4 0.34 32000 0.02 50 1:2 100
8100 2 0.17 16200 0.01 50 1:2 50
8500 3 0.26 25500 0.02 50 2:3 100
8550 1 0.09 8550 0.01 50 FIRM 50
9000 1 0.09 9000 0.01 50 FIRM 50
9400 1 0.09 9400 0.01 50 FIRM 50
10000 16 1.38 160000 0.10 50 11:16 550
10200 1 0.09 10200 0.01 50 FIRM 50
10500 2 0.17 21000 0.01 50 1:2 50
10700 3 0.26 32100 0.02 50 2:3 100
10750 1 0.09 10750 0.01 50 FIRM 50
10850 1 0.09 10850 0.01 50 FIRM 50
11000 3 0.26 33000 0.02 50 2:3 100
11450 1 0.09 11450 0.01 50 FIRM 50
11750 2 0.17 23500 0.01 50 FIRM 100
12000 1 0.09 12000 0.01 50 FIRM 50
12100 1 0.09 12100 0.01 50 FIRM 50
12250 1 0.09 12250 0.01 50 FIRM 50
12500 2 0.17 25000 0.02 50 FIRM 100
12700 1 0.09 12700 0.01 50 FIRM 50
12850 1 0.09 12850 0.01 50 FIRM 50
13000 1 0.09 13000 0.01 50 FIRM 50
13600 1 0.09 13600 0.01 50 FIRM 50
13700 1 0.09 13700 0.01 50 FIRM 50
14000 7 0.60 98000 0.06 50 6:7 300
14250 9 0.77 128250 0.08 50 8:9 400
14300 2 0.17 28600 0.02 50 FIRM 100

C. Allocation to Qualified Institutional Buyers (QIBs)
Allocation to QIBs have been done on a proportionate basis in consultation with BSE. As per the SEBI guidelines, Mutual Funds were initially allotted 5% of the quantum of shares available (89,286) and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares (16,96,429) on proportionate basis.

Category Fls/Banks MFs FIIs Insurance Companies VCs. Total
No. of Shares 476897 343419 757641 138240 69518 1785715

The Board of Directors at its meeting held at Chennai on July 24,2007 has approved the basis of allocation of shares and has allotted the shares to various successful applicants.
The CAN-cum-Refund Orders and allotment advice and notices (where applicable) have been dispatched to the address of the investors as registered with the depositories. In case the same is not received within ten days, investors may contact at the address given below. The Refund Orders have been over-printed with the Bank Mandate details as registered, if any, with the depositories. The shares allocated to successful applicants are being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned. The company is taking steps to get the equity shares admitted for trading on the Bombay Stock Exchange Limited and National Stock Exchange of India Limited within seven working days from the date of approval of the basis of allocation.

INVESTORS PLEASE NOTE
This details of the allocation made would be hosted on the website of Registrars to the Issue, Cameo Corporate Services Limited www.cameoindia.com
All future correspondence in this regard may kindly be addressed to the Registrars to the issue quoting full name of the First/ Sole applicant, Serial number of the Bid-cum-Application form, number of shares bid for, name of the Member of the Syndicate and Place where the bid was submitted and payment details at the address given below:

CAMEO CORPORATE SERVICES LIMITED
Unit: EVERONN
Subramanian Building', No. 1, Club House Road, Chennai - 600 002, India
Tel: +91 44 2846 0390/0014; Fax: +91 44 2846 0129
Email: investor@cameoindia.com; Website: www.cameoindia.com


Place: Chennai
Date: July 27,2007

For Everonn Systems India Limited
Sd/-
A.V.Sridhar
Compliance Officer

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF EVERONN SYSTEMS INDIA LIMITED.

Everonn IPO Basis of Allotment FAQs

Check the basis of allotment document above to know about how the shares are allocated in Everonn IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).

The Everonn IPO basis of allotment (published above) tells you how shares are allocated to you in Everonn IPO and category wise demand of IPO share.

Visit the Everonn IPO allotment status page to check the number of shares allocated to your application.

Check the basis of allotment document above to know about how the shares are allocated in Everonn IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).