Everstone Capital eyes $30m S Chand Group stake

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India-focused buyout house Everstone Capital is planning a $30m stake purchase for 75-year-old education publisher S Chand Group, it is understood.

Everstone could pick up a 35 per cent share in S Chand according to a report in the Times of India, which said the company was aiming to grow content through acquisitions and an increased focus on digitisation.

S Chand publishes textbooks ranging from primary school level to advanced engineering, science and business, and distributes across South Asia, the Middle East and Africa.

Earlier this month it emerged Everstone was targeting a $27m investment in Hinduja Leyland Finance.

That amount would net Everstone a ten per cent stake in the company, which is looking to raise its assets under management to $1bn.

Other prospective investors include Temasek Holdings and AIF Capital.

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