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S Chand IPO Can Hit Market In Second Week Of April

S Chand IPO Can Hit Market In Second Half Of April:

S Chand Group, the education company backed by the International Finance Corp. and Everstone Capital, will aim to raise as much as Rs 650 crore in its initial public offering (IPO) in the second week of April, bankers said.

The IPO comprises of a fresh issue of Rs 300 crore, and an offer for sale of over 6,023,236 equity shares by the two private equity players.The sale is likely to hit primary market on April 11.

Everstone Capital acquired a 31% stake in the company in 2012 for Rs 200 crore. In 2015, the company raised an additional $27 million from Everstone and IFC to scale up its presence in the educational content space, specifically targeting the K-12 market.

Proceeds from the issue would be utilised for repayment and pre-payment of loans and for general corporate purposes. The loan amount includes those taken by its subsidiary for funding the acquisition of Chhaya Prakashani. JM Financial Institutional Securities, Axis Capital and Credit Suisse Securities (India) Private will manage the issue.

The company had filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) in December last year to float an IPO. It received Sebi’s `observation’ on March 3, 2017. The company is leant to be filing the final RHP on Monday.

Market Update:

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Now Avanue Supermarts (Dmart) IPO Allotment and Listing also completed. And people made an awesome 100% profit on listing.

Now CL Educate (CLEL) IPO bidding has been closes on March 22, 2017. Now CL Educate (CLEL) IPO Allotment and Listing will be in process. While Shankara Building Products Ltd IPO (SBPL IPO) bidding also closed on 24 March 2017. Now Shankara Building Products IPO Allotment and Listing will be in process. Now Next IPO can be Housing and Urban Development Corporation Ltd IPO (HUDCO) where its bidding is expected to start from April 17, 2017.

Current Grey Market Premium (GMP) of Shankara Building Products Ltd (SBPL) IPO is trading between Rs 151 – Rs 153 per equity share. While HUDCO Grey Market Premium (GMP) also started showing movement and currently trading at Rs 29.25 – Rs 29.75 per equity share.

Next in the pipeline will be Central Depository Services Ltd IPO (CDSL IPO)  and Continental Warehousing Corporation Ltd IPO (Nhava Seva IPO).

Some SME IPO will also be active in market in coming week.

This year we can see some good IPO hitting market like NSE Ltd IPOHDFC Standard life insurance, SBI life insurance etc.

Keep watching this blog to keep yourself updated with all the news.

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