S.Chand buys 51% stake in Chetana Publications
In a bid to expand its base in the school education segment, S. Chandand Co Ltd is all set to buy a controlling 51% stake in Chetana Publications Pvt. Ltd. The S Chand board has approved an investment of `58.5 crore to acquire this 51% partnershipin an all-cash deal.
As part of the inorganic growth in this space, this is the fourth acquisition by the S. Chand group since 2012. Prior to this deal, the company had acquired Vikas Publishing House, New Saraswati House and Chhaya Prakashani.
According to Himanshu Gupta, managing director of S.Chand and Co, they are happy to collaborate with Chetana Publications and this will expand their reach in the west (western India) region.