IFC to invest Rs 120 crore in Everstone-backed S Chand
Will pick up minority stake in the company
The company is backed by Everstone Capital Partners II LLC.
The additional capital will be used for further expansion of S Chand's operations in India. The investment would also help the company create additional skilled jobs in content development, editorial and sales teams including in Tier II-III cities, IFC said in a statement.
The group is headquartered in Delhi with offices in 26 cities across India, and has printing facilities at Rudrapur (in Uttarakhand) and Sahibabad (in Uttar Pradesh).
Headquartered in Delhi, S Chand is a leading company in the educational publishing space in India.
Established by Shyam Lal Gupta in 1939, the S Chand group is now owned and managed by Himanshu Gupta and Dinesh Kumar Jhunjhnuwala and their families. Everstone Capital Partners II LLC is also a shareholder in S Chand.