Shares of textbooks publisher S Chand and Company got listed at Rs 707 on the BSE on Tuesday, up 5.52 per cent, against the issue price of Rs 670.

The issue was opened for subscription from April 26 to April 28 and the public offer received an overwhelming response from investors as it was oversubscribed by 59.49 times.

On the NSE, shares of the company got listed at Rs 700, up 4.48 per cent, against the issue price.

Over 87 lakh shares of the company were traded on NSE during the morning trade.

The IPO saw solid investor demand and was oversubscribed 59.49 times. The portion of Qualified Institutional Buyers (QIBs) was oversubscribed 44.27 times and that of non-institutional investors, a staggering 204.65 times.

Retail investors category was also oversubscribed 6.07 times.

The price band for the offer, open from April 26-28, was set at Rs. 660-670 a share.

JM Financial Institutional Securities, Axis Capital and Credit Suisse Securities (India) Pvt were the merchant bankers to the offer.

Last year, the company had acquired 74 per cent of the outstanding share capital of Chhaya Prakashani Pvt Ltd.

The company offers 53 consumer brands across knowledge products and services, including S Chand, Vikas, Madhubun, Saraswati, Destination Success and Ignitor.