S Chand buys 51% stake in Chetana Publications

This is S Chand’s fourth acquisition in the recent years. Previously, the company had acquired Vikas Publishing House, New Saraswati House and Chhaya Prakashani.

Based in Mumbai, Chetana Publications is into education books, stationery, and multimedia. Established it 1975, the company’s backlist contains more than 1000titles for schools.

On 9 August 2018, S Chand, which is listed at NSE, announced plans to buy a controlling 51% stake in Chetana Publications to expand its base in the school education space. S Chand said its board has approved an investment of Rs 58.5 crore to acquire the 51% “partnership interest” in an all-cash deal. “This investment is in line with the inorganic growth strategy of S Chand to expand its share in the K12 content publishing market,” said the company.

In a press statement, Himanshu Gupta, managing director of S Chand, said “We are delighted to collaborate with Chetana Publications. This transaction will enhance our collective ability to deliver better academic outcomes and expand our reach in the west (western India) region.”

Rakesh Rambhia, managing partner of Chetana Publications, said the financial support and domain expertise of S Chand will help them expand “more rapidly and broadly”.

“We believe Chetana is a good strategic fit and will help us move closer to our objective of creating a diversified regional presence in the school market,” said Dinesh Jhunjhnuwala, executive director at S Chand.

The company reported revenue of Rs 807 crore in 2017-18 with K-12, contributing around 80% of the total. Its product portfolio includes printed learning material, digitally enabled books, smart class solutions, learning management systems, curriculum management, test preparation platforms, STEM learning, and eBooks.

(Courtesy Agencies)