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Text-book maker S Chand has sold off its entire stake in Testbook Edu Solutions, which prepares students for various competitive exams. The stake, valued at ₹18 crore, has been picked up by a major domestic EdTech player.
S Chand’s holding in the start-up was through its wholly owned subsidiary Safari Digital Education Initiatives.
The approximate return for the text-book maker was “7.8x on the original investment of ₹2.30 crore”. The investment was made in December 2015, S Chand said in a statement.
Testbook, founded by IIT alumni Narendra Agrawal, Ashutosh Kumar, Praveen Agrawal and Manoj Munna, focuses on online preparation for competitive exams.
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