PUBLISHER S CHAND & CO TO LAUNCH IPO ON APRIL 26

S Chand & Co Ltd, a publisher of educational books, on Wednesday announced that it will sell shares for the first time to the public on April 26. The firm has fixed a price band of ₹660-670 per share for its initial share sale. The offer will close on April 28.

Everstone Capital-backed S Chand delivers content, solutions and services across the education lifecycle, serving the K-12, higher education and early learning segments.

The firm has appointed investment banks JM Financial Institutional Securities Ltd, Axis Capital Ltd and Credit Suisse Securities (India) Pvt Ltd to manage the share sale. It had filed its draft IPO prospectus with market regulator Securities and Exchange Board of India on December 16 and received approval in early March.

The IPO will see the company raise ₹325 crore in primary capital. Additionally, existing shareholders of the company, including Everstone Capital, will collectively sell around 6 million shares worth ₹403.5 crore, taking the total IPO size to ₹728.5 crore.

Everstone holds 32.27% stake in the company.

Out of the primary proceeds, the company will spend ₹255 crore to repay debt, said Samir Khurana, group head, strategy and investments at S Chand.

S Chand is looking to repay loans availed by it and its subsidiary Eurasia Publishing House Pvt Ltd, which were utilised towards funding the acquisition of Chhaya Prakashani Pvt Ltd.

As of December 31, the company offered 55 consumer brands across knowledge products and services, including S Chand, Vikas, Madhubun, Saraswati, Destination Success and Ignitor. NPL and problem loan ratio (as a percentage of gross loans) NPLs and problem loans over buffers ( in %)

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