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Everonn’s board approve MOU between Varkey Group and SKIL Infrastructure

20 Sep 2011 Evaluate

Everonn Education’s Board of Directors at its meeting held on September 19, 2011, has approved the Memorandum of Understanding between the Company, Varkey Group and SKIL Infrastructure.

The board has also approved the issue of 26,18,120 Equity Shares of Rs 10 each for cash at a price of Rs 528 per share (including a premium of Rs 518 per share) aggregating to Rs. 1,38,23,67,360, being the price which is in accordance with the SEBI Regulations to Varkey Group on preferential basis, subject to requisite shareholder/regulatory and other approvals including SEBI Regulations.

Further the board pproved the increase of the total NRI limit under the portfolio investment scheme from 10% to 24%, subject to requisite shareholder/regulatory and other approvals as may be required.

The above information is part of company’s filing submitted to the BSE.

Peers
Company Name CMP
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Aptech 92.33
NIIT 72.03
Compucom Software 14.22
Jetking Infotrain 127.50
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