S Chand and Company files IPO papers with SEBI
DSIJ Intelligence / 21 Dec 2016
Leading text book publisher, S Chand and Company has filed draft papers for initial public offer (IPO) that includes fresh issue worth Rs 300 crore.
Leading text book publisher, S Chand and Company has filed draft papers for initial public offer (IPO) that includes fresh issue worth Rs 300 crore. The company’s existing shareholders, including private equity fund Everstone and International Finance Corporation (IFC), would also be offloading a little over 60 lakh shares through the Offer for Sale (OFS) route.
The OFS would be for up to 60 lakh equity shares, including sale of 48 lakh shares by Everstone. Himanshu Gupta, Dinesh Kumar Jhunjhnuwala, Neerja Jhunjhnuwala, Nirmala Gupta, Savita Gupta, Ankita Gupta and Gaurav Kumar Jhunjhnuwala would also be selling their shares.
The company will utilise funds for repayment and prepayment of loans as well as for general corporate purposes. The loan amount includes those taken by its subsidiary for funding the acquisition of Chhaya Prakashani. The company had acquired 74 per cent of the outstanding share capital of Chhaya Prakashani.
S Chand and Company offers 53 consumer brands across knowledge products and services, including S Chand, Vikas, Madhubun, Saraswati, Destination Success and Ignitor.
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