S Chand And Company Ltd arm divests stake in Testbook Edu Solutions Pvt Ltd for Rs. 17.90 crores

Safari Digital Education Initiatives Private Limited ("Safari Digital"), a wholly owned subsidiary of S Chand And Company Ltd, has sold its entire holding of equity shares capital of Testbook Edu Solutions Private Limited at an aggregate amount of ~ INR 17.90 Crores (Rupees Seventeen Crores Ninety Lacs only) on July 25, 2022, which amounts to a return of almost 7.8x on the initial Invested amount. The Investment had been made by Safari Digital in Testbook Edu Solutions Private Limited in December 2015 for ~ INR 2.30 Crores. The Company would continue to work with Testbook Edu Solutions Private Limited for the series of Smart Books in the Test Preparation segment.

Shares of S Chand And Company Limited was last trading in BSE at Rs. 119.45 as compared to the previous close of Rs. 119.70. The total number of shares traded during the day was 5758 in over 279 trades.

The stock hit an intraday high of Rs. 121.00 and intraday low of 118.00. The net turnover during the day was Rs. 685791.00.

Source : Equity Bulls

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SChandAndCompany INE807K01035 Publishing