Chennai
2nd Jan 2003

Eonour Technologies Ltd, a Chennai based technology solutions provider has laid its plans for a GDR issue in the coming months.

With this, Eonour will be looking at raising around USD 27 million which will go into funding their domestic/overseas expansion and acquisition plans. The company is in advanced discussion with leading merchant bankers and investors in this connection.

The company is also planning a preferential allotment to the promoters for cash. The company has also obtained LOI's from outside investors for a preferential allotment for cash. The current promoter holding is around 41% and the allotment will be as per SEBI guidelines.

The company attributes its growth to its employees who have played a vital role in the company's success and intends to make them a partner in the progress and success of the company. The board has decided to allot ESOP's to employees in this connection.

The above business was concluded in the board meeting held on 2nd Jan 2003. The board has fixed 30th Jan 2003 as the EGM date to pass the necessary resolutions for the GDR issue, preferential allotment and the ESOP.

Eonour is an ISO 9001:2000 certified provider of end-to-end technology solutions in the fields of SCM, EAI and networking. With core expertise in Supply Chain Management, Eonour's suite of solutions addresses each aspect in the chain: the supplier, logistics, manufacturer, distributor and customer.

Eonour has branches across Delhi, Mumbai, Hyderabad, Bangalore, Madurai and Indore. International offices are at Malaysia, Singapore, HongKong and USA. They also have recently set up 2 development centers in Pondicherry in addition to the existing one in Chennai, to meet their expanding operations.

According to Mr. R Karthik, CEO "Eonour is going in for GDR issues to address and fund our growth plans; this will also be a strategic move towards making ourselves more visible internationally".

Some of Eonour's other prestigious client include: UPS Singapore, Hero Honda, Kinetic Engineering, L&T-LTM Business Unit, Best Group HongKong, Hyundai Motor, Amara Raja to name a few.


For further details please contact:info@eonour.com