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IFC to invest Rs 120 crore in Everstone-backed S Chand

Will pick up minority stake in the company

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T E Narasimhan Chennai
Last Updated : Feb 18 2015 | 12:53 PM IST
International Finance Corporation (IFC) is planning to make an equity investment of Rs 120 crore in Delhi-based S Chand for a minority stake.

The company is backed by Everstone Capital Partners II LLC.

The additional capital will be used for further expansion of S Chand's operations in India. The investment would also help the company create additional skilled jobs in content development, editorial and sales teams including in Tier II-III cities, IFC said in a statement.

The group is headquartered in Delhi with offices in 26 cities across India, and has printing facilities at Rudrapur (in Uttarakhand) and Sahibabad (in Uttar Pradesh). 

Headquartered in Delhi, S Chand is a leading company in the educational publishing space in India.

Established by Shyam Lal Gupta in 1939, the S Chand group is now owned and managed by Himanshu Gupta and Dinesh Kumar Jhunjhnuwala and their families. Everstone Capital Partners II LLC is also a shareholder in S Chand.

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First Published: Feb 18 2015 | 10:36 AM IST

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