![]() ![]() ![]() He questioned why most of the publishing in India was being done by the Britishers,” said Himanshu. Shyam Lal Gupta, its founder, started it at a time when publishing was mostly done by British companies in India. S Chand started out in the alleys of New Delhi’s Chandni Chowk. ![]() Other brokerages ICICI Direct and GEPL, too, have recommended a subscribe on the issue.īut long before it became a favourite among India’s school-goers, the company was born in 1939 as an alternative to British publishers in India. “We believe that its seven-decade legacy, leadership in K-12 (kindergarten-to-class 12) education content market, strong margin, and growth prospects have been captured well at the valuations of Rs 660-Rs 670 per share where the scrip would trade at 39 times of its FY16 earnings,” LKP Research, a Mumbai brokerage firm, said in a report. Meanwhile, several brokerages in the country are already vouching for the IPO, asking investors to subscribe to the issue. “The company will use the proceeds to repay debt we will manage to bring down debt by 75%,” Himanshu Gupta, S Chand’s managing director, told Quartz. Together, the IPO is expected to rake in Rs 727 crore. It will also put on sale six million shares held by existing shareholders. Through an initial public offering, it is looking to raise Rs 325 crore. On Wednesday, however, S Chand made its mark on a different turf: the Indian stock market. Last year, the company sold over 45 million books, emerging as India’s largest book publisher by revenue. Focusing on the kindergarten-to-high school category, S Chand’s books are often used as textbooks or as supplements to the textbooks. The 78-year-old company publishes some of the country’s best known academic books, with subjects ranging from history to science to literature. ![]()
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