S Chand and Company sets IPO price band
DSIJ Intelligence / 19 Apr 2017
S Chand and Company is set to launch its initial public offering (IPO). The offer is scheduled to open on April 26 and close on April 28, with a price band of Rs 660–Rs 670 per equity share of the face value of Rs 5 each.
S Chand and Company is set to launch its initial public offering (IPO). The offer is scheduled to open on April 26 and close on April 28, with a price band of Rs 660–Rs 670 per equity share of the face value of Rs 5 each.
The company’s offer consists of fresh issue of equity shares aggregating up to Rs 325 crore and an offer for sale of 60,23,236 equity shares amounting to Rs 350 crore. Out of the total offer, 954,907 equity shares are being offered by promoters, 253,593 equity shares by other selling shareholders and up to 48,14,736 equity shares are being offered by Everstone Capital Partners II LLC.
S Chand and Company will not receive any proceeds from the offer for sale. The company proposes to use the net proceeds from the fresh issue towards repayment of loans availed by the company. It will also utilise funds for acquisition of Chhaya. S Chand and Company will also repay in full or in part certain loans availed by the company and certain loans of its subsidiaries, New Saraswati House (India) and Vikas Publishing House and for general corporate purposes.
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