S Chand IPO oversubscribed 1.96 times on second day

The initial public offering of textbook publisher S Chand and Company was oversubscribed 1.96 times on the second day of the offer on Thursday. The IPO received bids for 1,50,41,466 shares against the total issue size of 76,85,284 shares, data available with the NSE showed. The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 2.68 times, while that for non- institutional investors was subscribed 32 per cent. Retail investors portion was also oversubscribed 2.24 times. S Chand had raised nearly Rs 219 crore from anchor investors on Tuesday. The price band for the offer is Rs 660-670 a share.