Private equity major Everstone Capital today said it has invested Rs 200 crore in a leading publishing house S Chand and Company.
“S Chand is one of the largest educational publishing houses in India. With widespread distribution, experienced management and strong macro tailwinds, it is uniquely positioned to consolidate the market and deliver the necessary content to students and educational institutions across India,” Everstone Capital’s Managing Partner Sameer Sain said in a release issued here.
The education publishing market in the country is pegged at USD 1.8 billion and is estimated to be growing at 15-20 percent annually.
“There is a huge demand for K-12, competition, and technical books, and increasing number of schools are moving towards private publishers. Also, the job market in independent professional sectors such as engineering, banking, etc is growing steadily. We want to continue to focus on our strengths in analytical, quantitative and, verbal reasoning,” S Chand Group Vice Chairman Dinesh Jhunjhnuwala said.
S Chand Group Joint Managing Director Himanshu Gupta said with digitalisation of the print medium, this investment by Everstone Capital is significant as it will help us strengthen not only our core business of publishing, but also help us reach a rapidly growing internet savvy population.
Details of the transaction like the quantum of equity being offered to Everstone were not revealed.
Source: Indian Express