Everstone invests $38m in educational publisher S Chand

It was previously reported that the private equity firm would take a 35% stake in New Delhi-based S Chand, which is one India's largest educational publishing houses and has been in operation since 1939.

The company operates pre-schools and learning centers for children and last year acquired BPI, a children's book publisher. It has also moved into digital learning solutions along with vocational and corporate training. Last year S Chand established a joint venture with US brand Houghton Mifflin Harcourt aimed at bolstering digitization capability.

Sameer Sain, Everstone's managing partner, said that S Chand distribution networks, experienced management and strong macro tailwinds mean it is well positioned to consolidate the educational publishing market. The industry is currently worth $1.8 billion and estimated to be growing at 15-20% per annum.

"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," said Dinesh Jhunjhnuwala, S Chand's vice chairman, The Business Standard reported.

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• Topics
• South Asia
• Consumer
• Expansion
• India
• Consumer
• Everstone Capital
• Growth capital