With a price band of Rs660-670, the S Chand IPO comprises new shares worth Rs325 crore and an offer for sale of 6.02 million shares by existing shareholders. Photo: MintNew Delhi: The initial public offering (IPO) of textbook publisher S.Chand and Co. saw solid investor demand as it was subscribed 59.44 times on the last day of offer on Friday. The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 44.27 times and non institutional investors, a staggering 204.65 times, people with the knowledge said. Priced between Rs660 and Rs670 apiece, the S Chand IPO comprises new shares worth Rs325 crore and an offer for sale of 6.02 million shares by existing shareholders. The company offers 53 consumer brands across knowledge products and services, including S. Chand, Vikas, Madhubun, Saraswati, Destination Success and Ignitor.

Source: Mint April 28, 2017 16:41 UTC