From a 100-Year Legacy to Pan-India Expansion: Dachepalli Publishers Ltd.’s IPO-Led Growth Vision

Harish Dachepalli, Executive Director, Dachepalli Publishers Limited

Mumbai (Maharashtra) [India], December 18: With a legacy dating back to 1908, Dachepalli Publishers Limited is a Hyderabad-based K–12 educational publishing company offering curriculum-aligned learning materials from Kindergarten to Class 10 across CBSE, ICSE, and State Boards. Present in over 10,000 schools across 10 states, the company combines strong editorial expertise with in-house printing and technology-enabled learning solutions aligned with NEP 2020 and NCF guidelines.

To support its next phase of growth, the company has announced the launch of its IPO, comprising a fresh issue of 39,60,000 equity shares, opening for Anchor Investors on December 19, 2025, and for the public from December 22 to 24, 2025, with a proposed listing on the BSE SME Platform. In this interview, Harish Dachepalli, Executive Director, Dachepalli Publishers Limited, discusses the IPO rationale and the company's pan-India expansion strategy.

Q1. Dachepalli Publishers has a legacy of over a century. What strategic considerations influenced your decision to launch an IPO at this stage of the company's journey?

For a long time, our business was primarily focused on South India, as the company is headquartered in Hyderabad and we had a strong, stable market here. Earlier, the business was run with a steady regional focus. However, when my brother and I joined around ten years ago, we felt the need to scale the business nationally.

Over the last five years, we have gradually expanded into 10–12 states, validating our model beyond the southern region. The IPO is a strategic move to accelerate this growth. In the next three years, we aim to expand across all Indian states, entering multiple new markets every year instead of one state annually. The IPO gives us the financial strength and structure required for pan-India expansion.

Q2. A major portion of the IPO proceeds is allocated toward working capital. How will this capital infusion enhance your publishing operations, supply chain, and nationwide distribution capabilities?

A significant portion of the proceeds earmarked for working capital will be used for bulk procurement of raw materials, which allows us to negotiate better pricing and improve margins.

Additionally, as part of our expansion strategy, we plan to establish offices in states where we currently do not have a presence. Our operating model involves setting up a state office, appointing a state manager, and building district-level sales teams. Earlier, we could enter only one state per year due to capital constraints. Post-IPO, we aim to enter three to four states annually and cover the entire country within three years.

We also plan to expand our product portfolio from the current 600 SKUs to around 900 SKUs over the next two years to build a more comprehensive K–12 education ecosystem.

Q3. With nearly 85% of printing managed in-house, how does this operational strength support cost efficiency and scalability as you expand into new markets?

Earlier, a large part of our printing was outsourced to external vendors in cities like Delhi, Mumbai, and Hyderabad. This resulted in limited control over quality, raw materials, and delivery timelines. Since publishing is a seasonal business, the availability of stock before the academic year is critical. Any delay directly impacts sales, as schools cannot afford to wait.

To overcome these challenges, we invested in our own printing infrastructure. Today, around 85% of our production is handled in-house, giving us better control over quality, cost, and timelines. The remaining 15% is outsourced to manage peak seasonal demand. This in-house capability is a key enabler for scalable and reliable expansion.

Q4. As NEP 2020 and NCF guidelines reshape India's K–12 education framework, how is Dachepalli ensuring its content remains curriculum-aligned and future-ready?

The introduction of NEP 2020 and the National Curriculum Framework has been extremely positive for publishers like us. Earlier, each state followed different curricula, forcing publishers to create multiple versions of the same subject for different regions. This significantly increased content creation and production costs.

With a unified curriculum framework now applicable across the country, we are able to create a single, well-researched product that can be sold pan-India. This has reduced development costs while allowing larger print runs, improving efficiency. We have invested in new curriculum-aligned content that is future-ready and scalable across markets.

Q5. Digital learning is increasingly complementing traditional textbooks. What role do digital or technology-enabled learning solutions play in your long-term growth strategy?

We strongly believe that education will follow a hybrid model—textbooks for core learning, technology for classroom engagement, and digital tools for revision and assessment.

Publishers were among the earliest adopters of educational technology, though we often didn't take credit for it. Post-COVID, the industry realised that technology must be integrated as an ecosystem rather than sold separately. We now bundle digital learning solutions with textbooks, offering them to schools at minimal additional cost.

Our technology ecosystem includes chapter-wise videos, learning management systems, student, teacher and parent apps, mock tests, and test-generation tools. We have also integrated AI-driven analytics to help teachers identify learning gaps, revise concepts, and provide personalised worksheets to students.

Q6. Currently present across 10 states with a strong distributor network, which regions or school segments are your key focus areas for post-IPO expansion?

Our presence today extends to over 10,000 schools across Tier 1, Tier 2, and Tier 3 cities, with Tier 2 markets contributing nearly 50% of our overall business. Our primary focus is on schools with annual fees in the range of ₹30,000 to ₹1 lakh, which form the backbone of India's education ecosystem.

We work closely with CBSE, ICSE, and State Board schools within this segment, and our post-IPO expansion strategy is focused on deepening our reach in this high-volume, high-impact category across new states.

Q7. For investors evaluating your IPO, what would you highlight as Dachepalli Publishers' key competitive advantage in India's K–12 educational publishing space?

Our biggest strength is the trust built over a century. When we launch a new textbook, our minimum initial print run itself is around 40,000 copies per class, as schools have strong confidence in our editorial quality and academic rigour.

In contrast, new publishers often begin with trial runs of just a few thousand copies. This acceptance allows us to scale faster and reduce risk. We intend to replicate the same strategy that has worked successfully in 10 states across the rest of India over the next two to three years, while preserving the legacy and credibility of the brand.

With a century-old legacy as its foundation, DachepalliPublishers Limited is entering a new phase of growth driven by scale, operational strength, and curriculum-aligned innovation. Supported by in-house printing, a robust distributor network, and a hybrid learning ecosystem that blends textbooks with technology, the company is well-positioned to expand its footprint across India's evolving K–12 education landscape. The IPO marks a key milestone in Dachepalli's journey, enabling it to take its trusted academic solutions to schools nationwide while remaining aligned with the future of learning.

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