NEW DELHI, 9.8.2018– The Board of Directors of S Chand And Company Limited today approved an investment of Rs. 58.50 Crores in Chetana Publications (India) LLP for acquiring a 51% partnership interest in the LLP in an all-cash transaction. This investment is in line with the inorganic growth strategy of S Chand to expand its share in the K-12 content publishing market.
This the fourth majority investment made by the S Chand Group since 2012 in educational publishing content. Prior to this, it acquired Vikas Publishing House, New Saraswati House and Chhaya Prakashani .
Himanshu Gupta, Managing Director, S Chand And Company Limited, said, “We are delighted to collaborate with Chetana Publications and would like to welcome them into the S Chand family. This transaction will enhance our collective ability to deliver better academic outcomes and expand our reach in the West region.”
“As an industry we’re just scratching the surface of how powerful content marketing can be when it’s combined with the massive scale offered by the global digitalised environment,” said Rakesh Rambhia, Managing Partner of Chetna. “Having the financial support and domain expertise of S Chand will help us execute our vision even more rapidly and broadly.”
Anil Rambhia, Managing Partner of Chetna welcomed the partnership and said “Our aim is to expand high quality content to every school and every student in the Western Region. This partnership places us in a strong position and will help accelerate this vision.”
“We believe Chetana is a good strategic fit and will help us move closer to our stated objective of creating a diversified regional presence in the school market.” said Dinesh Jhunjhnuwala, Executive Director, S Chand And Company Limited.
S CHAND AND COMPANY LIMITED
S Chand And Company Limited is a leading player in education content with presence in three segments – early learning, K-12 and higher education. Its product portfolio includes printed learning material, digitally enabled books, smart class solutions, learning management systems, curriculum management, test preparation platforms, STEM learning and e-books.
The company reported a revenue of Rs. 807 Crores in FY 2017-18 with K-12 segment contributing around 80% of total revenues. S Chand covers around 40,000 schools and over 30 million students through its pan-India network of 6,000 channel partners.
Chetana is a well-established publishing brand with a strong presence in the state board market of Maharashtra. The Chetana group covers over 10,000 schools and sold over 8 million books in the last financial year, recording revenues in excess of Rs.60 Crores from the publishing business.