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 New Delhi-based company was incorporated in 1970 and has since been publishing books for primary and secondary schools, higher secondary academics and accounting, tax and engineering exams and other technical subjects.
Proceeds from the issue will be utilised for repayment and prepayment of loans as well as for general corporate purposes. The loan amount includes those taken by its subsidiary for funding the acquisition of Chhaya Prakashani. The company had acquired 74% of the outstanding share capital of the Kolkata-based publisher last year.
The company offers 53 consumer brands across knowledge products and services, including S Chand, Vikas, Madhubun, Saraswati, Destination Success and Ignitor. (Courtesy news agencies)