S Chand and Company IPO opens on 26 April

The IPO price band fixed at Rs 660 to Rs 670 per share

S Chand and Company is coming up with an Initial public offering (IPO) consisting of a fresh issue aggregating up to Rs 325 crore and an offer for sale of up to 60.23 lakh equity shares by the selling shareholders. The price band of the issue is set at Rs 660 to Rs 670 per equity share of face value of Rs 5 each. The issue opens for bidding on 26 April 2017 and closes on 28 April 2017.

The offer for sale of issue of up to 60.23 lakh equity shares is comprised of promoter selling shareholders, the other selling shareholders and the investor selling shareholders collectively termed as selling shareholders. Investor shareholder, Everstone Capital Partners II LLC offers to sell upto 48.14 lakh shares.

The net proceeds from the fresh issue will be utilized towards the repayment of loans availed by the company and one of its subsidiaries, EPHL, which were utilized towards funding the acquisition of Chhaya. Repayment/prepayment, in full or in part, of certain loans availed of by the company and certain of Its subsidiaries, VPHPL and NSHPL; and general corporate purposes.

The company reported consolidated net loss of Rs 88.48 crore on total revenue of Rs 150.80 crore in the nine months ended 31 December 2016.

S Chand and Company is a leading Indian education content company. The company delivers content, solutions and services across the education lifecycle through its K-12, higher education and early learning segments.

The company is the leading K-12 education content company, with a strong presence in the CBSE/ICSE affiliated schools and increasing presence in the state board affiliated schools across India. The company sells knowledge products and services to schools and to students across their lifecycle through its extensive pan-India network of sales offices, distributors and dealers.

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