S Chand IPO oversubscribed on Day 2
Existing shareholders of the company, including Everstone Capital, would collectively sell 6,023,236 shares worth Rs 403.5 crore, taking the total IPO size to Rs 728.5 crore, as reported by PTI.
Education content company, S Chand & Company on the second of the initial public offer got oversubscribed by 139% till 1223 pm, as per the cumulative data showed on NSE.
The IPO received bids for 1,06,73,938 shares against the total issue size of 76,85,284 shares, the data showed.
ALSO READ: S Chand IPO subscribed 52% on Day 1
The qualified institutional investors (QIBs) bid for 57,13,444 shares and the number of shares reserved/offered were 22,11,544 shares, which is 2.58 times of the total. The retail individual investors bid for 16,34,270 shares and the number of shares reserved/offered were 38,31,618 shares, which is 0.43 times of the total, showed NSE data.
On Tuesday, the company had raised around Rs 219 crore from the anchor investors. The IPO will close on Friday.
ALSO READ: S Chand IPO opens today, here's what experts outlook sayAs per the report, S Chand is the largest textbooks publisher in India catering to the CBSE/ICSE K‐12 market having strong Pan‐India footprint. It has created and acquired brands over the years and has been successful in increasing its school bag content share in CBSE/ICSE schools.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.