Booking profits the old-school way

With Rs 325-crore IPO proceeds, S Chand aims to consolidate

Its books have helped school students of several generations pass many examinations. Last week, the 78-year old text book publisher S Chand & Co is in the middle of a test of its own.
 
Though the final results will be known when its stocks list on the bourses, a 60-times subscription in the Rs 730-crore initial public offering (IPO) has raked up, suggesting a distinction, if not flying colours. Of the proceeds, Rs 325 crore would come to the company, while selling shareholder, Everstone Capital, would take the rest.
 
Sitting at his second floor office in the capital’s