The S Chand IPO comprises fresh issue of equity shares up to Rs325 crore. The offering of 7.68 million shares, excluding anchor allotment, received bids for nearly 3.98 million equity shares, or 52% of the total, data available with the stock exchange showed. In December 2016, S. Chand acquired a 74% stake in Chhaya Prakashani, adding four Chhaya brands to its portfolio. Inorganic growth through acquisitions is a strategy that S. Chand has frequently preferred in the past too. In financial year 2012-13, S Chand acquired Vikas Publishing to bolster its offering in Hindi titles.

Source: Mint April 26, 2017 13:29 UTC