The investment would also help the company create additional skilled jobs in content development, editorial and sales teams including in Tier II-III cities.
International Finance Corporation (IFC), the private sector investment arm of the World Bank, is planning to make an equity investment of Rs 120 crore in Delhi-based S Chand for a minority stake, according to various media reports.
The publishing house is backed by Everstone Capital Partners II LLC.
The additional capital will be used for further expansion of S Chand's operations in India. The investment would also help the company create additional skilled jobs in content development, editorial and sales teams including in Tier II-III cities, IFC said in a statement.
The group is headquartered in Delhi with offices in 26 cities across India, and has printing facilities at Rudrapur (in Uttarakhand) and Sahibabad (in Uttar Pradesh). It publishes a variety of books catering to up to 12th standard (or K-12), higher education, competitive exams and children’s books. Besides, it offers digital learning solutions for government and private schools and engineering colleges through joint ventures.
Established by Shyam Lal Gupta in 1939, the S Chand group is now owned and managed by Himanshu Gupta and Dinesh Kumar Jhunjhnuwala and their families. Everstone Capital Partners II LLC is also a shareholder in S Chand.
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