Education content company, S Chand & Company on the second of the initial public offer got oversubscribed by 139% till 1223 pm, as per the cumulative data showed on NSE.

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The IPO received bids for 1,06,73,938 shares against the total issue size of 76,85,284 shares, the data showed.

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The qualified institutional investors (QIBs) bid for 57,13,444 shares and the number of shares reserved/offered were 22,11,544 shares, which is 2.58 times of the total. The retail individual investors bid for 16,34,270 shares and the number of shares reserved/offered were 38,31,618 shares, which is 0.43 times of the total, showed NSE data. 

On Tuesday, the company had raised around Rs 219 crore from the anchor investors. The IPO will close on Friday.

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As per the report, S Chand is the largest textbooks publisher in India catering to the CBSE/ICSE K‐12 market having strong Pan‐India footprint. It has created and acquired brands over the years and has been successful in increasing its school bag content share in CBSE/ICSE schools.