Education company scores a first with IPO

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AZB & Partners advised S Chand and Company – and three promoters and four other selling shareholders – on its recent ₹7.3 billion (US$ 113 million) IPO. The firm’s team comprised Delhi-based partners Madhurima Mukherjee and Agnik Bhattacharya and associates Prashant Kumar, Nabil Shadab and Saumya Bhargava.

S Chand and Company is a leading Indian education content company that offers around 55 consumer brands across knowledge products and services. The IPO is a first for the sector.

In a statement to India Business Law Journal, Mukherjee and Bhattacharya said: “The transaction was a challenging one also from a timing perspective with the company simultaneously acquiring a major publisher in eastern India. Further, the company has major private equity investments which resulted in high-level structuring discussions involving significant coordination between the company, private equity investors, banks and counsels, along with various discussions with SEBI on key regulatory developments.”

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