Book publisher S Chand subscribed 1.85 times a day before close

The Rs 728-crore initial public offering (IPO) of education company S Chand and Company has garnered 1.85 times subscription on Thursday, a day before close. The 7.7-million share offering has so far received bids for 14.21 million shares. The institutional investor portion was been subscribed 2.7 times, retail portion has been subscribed 2.15 times and high-net worth individual quota has been subscribed 30 per cent, provisional data provided by stock exchanges showed.

S Chand, first IPO of fiscal 2017-18, has priced the offering between Rs 660 to Rs 670 per share. The company raised Rs 219 crore from anchor