New Delhi, November 24, 2015 – Indian education content provider, S Chand and Company Private Limited (S Chand) has raised US$ 27 million financing from IFC, a member of the World Bank Group, and existing investor, the Everstone Group. Everstone continues to be a significant minority investor in the Company.
The investment will be used to scale-up operations in education publishing and the digital education space which will enable S Chand to reach more students, in addition to creating skilled jobs.
“IFC’s investment, in addition to global expertise in the education industry, will be used to extend S Chand’s leadership position in the knowledge services business, support our pan India expansion strategy and augment textbooks with multimedia and digital delivery content,” said Mr. Himanshu Gupta, Joint Managing Director, S Chand. “We believe digital content has the potential to empower teachers and significantly increase attention and understanding of abstract concepts for students.”
IFC will provide equity capital to help the company expand into new sub-segments of education and establish itself as a leader in the non-infrastructure education sector.
Congratulating S Chand on this new partnership, Chris McCahan, Chief Investment Officer, IFC said, “the success of the overall education delivery system depends on the education material made available to students. S Chand is one of the few companies with the scale to increase access to affordable quality education material, particularly in tier II and tier III cities.
India is IFC’s top country exposure. IFC’s committed portfolio in India is over $5 billion as of June 30, 2015. In FY 15, IFC committed $1.4 billion in new investments. In addition to strengthening local capital markets in India, IFC is focused on boosting financing in infrastructure and logistics, promoting financial inclusion, and expanding access to high-quality and affordable services such as healthcare and education.
About S Chand Group
The S Chand Group, managed by Dinesh Jhunjhnuwala (Chairman) and Himanshu Gupta (Joint Managing Director), has grown to be one of the largest content and service providers in the Indian education sector, publishing around 35 million text books and delivering over 4,000 hours of e-content to 20 million students annually. The Company has been investing in the fast growing ed-tech space, with a presence in tablet-based content delivery, online tutoring, and online test preparation for government and PSU entrance examinations.
For more information, visit www.schandgroup.com
IFC, a member of the World Bank Group, is the largest global development institution focused on the private
sector in emerging markets. Working with more than 2,000 businesses worldwide, IFC uses its capital,
expertise, and influence, to create opportunity where it’s needed most. In FY15, IFC’s long-term investments
in developing countries rose to nearly $18 billion, helping the private sector play an essential role in the
global effort to end extreme poverty and boost shared prosperity.
For more information, visit www.ifc.org
About The Everstone Group
The Everstone Group is a premier India and Southeast Asia focused private equity and real estate investment
firm with assets under management of $3.3 billion. Headquartered in Singapore, Everstone has nearly 200
people working across five offices including Mumbai, Delhi, Bangalore, and Mauritius. Everstone has been
awarded ‘Private Equity Firm of the Year in India’ by Private Equity International for four consecutive years.
For more information, visit www.everstonecapital.com
For inquiries please contact:
Tina Pawar, Head of Corporate Communications, Everstone | +9122 40436078 |