Textbook publisher S Chand and Company made its debut on stock exchanges today. The stock rose 5.5% early on before falling below its issue price of Rs. 670 by 1010 am. 

S Chand & Company saw its shares  oversubscribed 59.44 times by the last day of offer.  The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 44.27 times and non-institutional investors over 204.6 times. Proceeds from the issue, the company said, would be used for repayment and prepayment of loans as well as for general corporate purposes.