S Chand & Company’s Rs. 727-crore public issue to open on April 26, 2017 - MYREALITY.In, Real Estate, Share Market, Mutual Fund, Insurance
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Thursday, April 20, 2017

S Chand & Company’s Rs. 727-crore public issue to open on April 26, 2017

S Chand & Company’s Rs. 727-crore public issue to open on April 26, 2017
Education-focussed publishing house S Chand & Company is planning to raise nearly Rs. 727 crore through an initial public offering, paving the way for the partial exit of private equity firm Everstone Capital.
The offer opens on April 26 and closes on April 28, 2017. The New Delhi-based company has fixed a price band of Rs. 660-670 a share. The face value is Rs. 5. The offer consists of a fresh issue of shares totalling up to Rs.325 crore and an offer-for-sale of 60 lakh shares of the promoters, shareholders and Everstone Capital Partners.
S Chand, which provides educational content for higher education and early-learning segments spanning Kindergarten to Std XII, had received regulatory clearance for the IPO on March 3, 2017 from SEBI. Following the IPO, the company intends to list the shares both on the BSE and the NSE.
The company, in its DRHP, had mentioned that it was scouting to acquire regional content houses, even as it plans to further its presence in the higher education business, particularly in the test preparation market.
Everstone Capital, which had invested a total of Rs.260 crore in two tranches, is partly exiting S Chand by selling close to 50% of its total stake in the company. The PE firm, which made its first tranche of investment in 2012, would get about Rs. 320 crore when it pares 50% of the stake it holds or about 48 lakh shares.

JM Financial, Axis Capital and Credit Suisse are the bankers to the issue.
S Chand & Company’s Rs. 727-crore public issue to open on April 26, 2017 Reviewed by S. Chitra on April 20, 2017 Rating: 5 S Chand & Company’s Rs. 727-crore public issue to open on April 26, 2017 Education-focussed publishing house S Chand & Company is...

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