S Chand sells entire stake in iNeuron to PhysicsWallah at ₹14 crore

S Chand and Company Limited, a firm that creates educational content, announced that it would sell its entire, 6.05% stake in the AI/Data Sciences focused Ed Tech platform iNeuron Intelligence Private Limited for a sum of ₹14 crores to PhysicsWallah. In addition to S Chand, co-investor, Mukesh Sharma Family Trust is also exiting their investment in iNeuron Intelligence Private Limited. The regulatory filing from the company read, ‘With a return of over 200% on the original investment of approx ₹7 crore in December 2021, this is the second recent exit for S Chand and Company Limited from its various Edtech Investments on the back of the recently concluded exit in Testbook with an ~8 times return on investment in July, 2022.” A minority stake in iNeuron Intelligence Private Limited was purchased by S Chand in two installations beginning in December 2021. The second installation of the investment was completed in September 2022. S Chand’s its wholly owned subsidiaries Vikas Publishing and Chhaya Prakashani had also invested in the stake in iNeuron Intelligence which has been sold to PhysicsWallah Commenting on the exit, Mr. Saurabh Mittal, CFO of S Chand and Company Limited said, “” We are happy to now hand over the reins to one of India’s most loved education platforms and are confident that both iNeuron and PhysicsWallah with their expert faculty and focus on blended soluti ons will have great synergy and the potential to spearhead India’s digital learning journey.” Talking about the monetary transaction, Mittal also said that, “This transaction additionally enables us to monetize our EdTech investments at an attractive value and provides opportunities to explore future investments that align with our growth strategies.” PhysicsWallah is an online test-prep platform started by Alakh Pandey in 2016. Since June, the unicorn startup PhysicsWallah has since acquired at least 4 companies. Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News. More Less

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