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S Chand and Company updates on investment in iNeuron; Stock gains 3.6%

Against this investment iNeuron has allotted equity shares to Vikas & Chhaya.

September 21, 2022 9:18 IST | India Infoline News Service
S Chand and Company Limited has informed the investment together with its wholly owned subsidiaries namely, Vikas Publishing House Private Limited ("Vikas") and Chhaya Prakashani Limited ("Chhaya") in iNeuron Intelligence Private Limited ("iNeuron") upto an amount of Rs7.50 crore (Rupees Seven Crores and Fifty Lakhs Only) in two tranches.
In a regulatory filing, the Company said that through its wholly owned subsidiaries, Vikas and Chhaya have completed the second tranche of investment of Rs90.08 lacs (Rupees Ninety Lacs Eight Thousand Only) in iNeuron. 
Against this investment iNeuron has allotted equity shares to Vikas & Chhaya. Post this acquisition, the total investment of the Company including investment through its wholly owned subsidiaries in iNeuron is 5.79% on fully diluted basis.

At around 9:18 AM, S Chand & Company Ltd is currently trading at Rs189.70 per share up by Rs6.6 or 3.6% from its previous closing of Rs183.10 per share on the BSE.
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