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S Chand to list on stock market tomorrow

LiveMint logoLiveMint 08-05-2017 PTI

New Delhi: Shares of textbook publisher S Chand and Company, which successfully closed its initial public offer (IPO) late last month, will make their stock market debut on Tuesday.

The IPO saw solid investor demand and was oversubscribed 59.49 times.

The portion of Qualified Institutional Buyers (QIBs) was oversubscribed 44.27 times and that of non- institutional investors, a staggering 204.65 times. Retail investors category was also oversubscribed 6.07 times.

The price band for the offer, open from 26-28 April, was set at Rs 660-670 a share. JM Financial Institutional Securities, Axis Capital and Credit Suisse Securities (India) Pvt were the merchant bankers to the offer. Last year, the company had acquired 74% of the outstanding share capital of Chhaya Prakashani Pvt.

The company offers 53 consumer brands across knowledge products and services, including S Chand, Vikas, Madhubun, Saraswati, Destination Success and Ignitor.

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