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Everonn Education trades jubilant on the plans to acquire Centum

23 Aug 2012 Evaluate

Everonn Education is currently trading at Rs 178.75, up by 9.65 points or 5.71% from its previous closing of Rs 169.10 on the BSE.

The scrip opened at Rs 175.00 and has touched a high and low of Rs 183.55 and Rs 170.80 respectively. So far 367000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 475.00 on 10-Jan-2012 and a 52 week low of Rs 135.00 on 30-Jul-2012.

Last one week high and low of the scrip stood at Rs 183.55 and Rs 156.70 respectively. The current market cap of the company is Rs 389 crore.

The promoters holding in the company stood at 63.21% while Institutions and Non-Institutions held 0.86% and 35.93% respectively.

Everonn Education, a part of Varkey Group /GEMS Education has signed a term sheet with Centum Learning for the acquisition of Centum. Subsequent to necessary regulatory approvals Centum will merge with Everonn.

In consideration for the acquisition of Centum, the Bharti family office will receive a combination of cash and equity shares in Everonn. The Bharti family office manages investments made by the promoters of the Bharti Group in their personal capacity.

Centum has more than 1000 learning and development specialists, provides end-to-end training and skill-building solutions to over 350 global firms, central and state productivity and business outcomes.

Everonn Education is engaged in the development and sale of educational products and services for both Schools and Colleges. In addition to this, the company also has a network of retail centres (both own and franchise) through which it provides training to the individuals and also facilitates various organizations to conduct tests.

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