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S Chand and Company to make debut in the market tomorrow

S Chand

Mumbai: Following a successful IPO issue, S Chand and Company will be listing itself on the exchanges on Tuesday.

The IPO saw solid investor demand after it was oversubscribed 59.28 times at the close of its bidding hours.

The textbook publisher’s issue received bids for 45,56,00,794 shares against the total issue size of 76,85,284 shares, data available with the NSE showed. S Chand had raised nearly Rs 219 crore from anchor investors.

The IPO comprises fresh issue of shares up to Rs 325 crore. Besides, the existing shareholders, including Everstone Capital, will collectively sell 6,023,236 shares worth Rs 403.5 crore, taking the total IPO size to Rs 728.5 crore. The price band for the offer is Rs 660-670 a share.

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