July 5, 2007 - July 11, 2007

Everonn IPO Basis of Allotment

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

The IPO allocation is based on the subscription level and the investor category.

Refer to IPO allotment rules and methods for more details.

See the basis of allotment document above to know how the shares are allocated in Everonn IPO .

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.

In Everonn IPO allotment process, the registrar separates valid and invalid applications. The invalid applications with technical errors are rejected and only valid applications at or above the cut-off price are considered for allotment.

For more information, please refer to IPO Allotment Process and Basis of Allotment.

Check the Everonn IPO basis of allotment document to know how the shares are allocated in Everonn IPO.

Everonn IPO Basis of Allotment

Everonn IPO Basis of Allotment FAQs

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