Publishing major S. Chand is all set to buy 51% stake in Chetana Publications Pvt. Ltd. The decision comes in view of S. Chand’s plans for expansion in the school education sector. S. Chand will invest ₹58.5 crore to acquire this 51% partnership in an all-cash deal.
This is the fourth acquisition by the S. Chand Group since 2012. Recently, the company had acquired Vikas Publishing House before it bought out New Saraswati House and Chhaya Prakashani.
According to Himanshu Gupta, managing director of S. Chand and Co., The group is happy to collaborate with Chetana Publications and this will expand their reach in the west Indian region.