S Chand and Company raises Rs 219 crore from anchor investors

MUMBAI: Ahead of the beginning of its initial public offering on Wednesday, Education content company S Chand has raised Rs 219 crore through allotment of 32.62 lakh shares to anchor investors at the upper end of its IPO price band of Rs 660-670 per share.

Nomura Trust, HDFC Company, HSBC Global Investment Fund, BNP Paribas Arbitrage, SBI Life Insurance Company were among the anchor investors. Nomura Trust picked up a significant chunk of the anchor portion of about 10.52% followed by Eastspring Investment India with 9.15%.

The IPO comprises a fresh issuance of shares worth Rs 325 crore and an offer for sale (OFS) of 6,023,236 shares will open opens on Wednesday, April 26 and and closes on Fiday April 28, 2017.