TVS Supply Chain Solutions, based in Chennai, is all set for its public issue, equity shares being priced at Rs 187-197. Discover the potential of this Chennai-based company’s market debut in the dynamic supply chain industry.
Highlights Of TVS Supply Chain Solutions IPO
- Chennai-based TVS Supply Chain Solutions Ltd announces IPO price band of Rs 187-197 per share.
- The issue opens for bidding on August 10 and closes on August 14, with the anchor book opening on August 9.
- The basis of allotment will be on August 22, and equity shares will be credited to depository accounts on August 23.
- The company plans to raise around Rs 600 crore from fresh issues and has reduced its offer-for-sale (OFS) to 14.23 million shares.
TVS Supply Chain Solutions IPO Price Band Set at Rs 187-197
TVS Supply Chain Solutions Ltd, based in Chennai, has fixed the price band for its upcoming IPO- initial public offering at Rs 187-197 per share. The IPO is set to open for bidding on August 10, 2023, and will close on August 14, 2023. The anchor book will be accessible to investors on August 9.
TVS Supply Chain Solutions IPO Date
The basis of allotment for the IPO will be finalized on August 22. Equity shares are expected to be credited to the depository accounts of allottees on August 23. The company’s stock is scheduled to be listed on the stock exchanges on August 24.
Changes in Offer-for-Sale (OFS) Segment
TVS Supply Chain Solutions Ltd has decided to raise around Rs 600 crore from fresh issues instead of the initially planned Rs 2,000 crore. As a result, the offer-for-sale (OFS) segment has been reduced to 14.23 million shares, down from the earlier plan of 59 million shares. The total issue size at the upper price band stands at Rs 880 crore, valuing the company at Rs 9,200 crore.
In the OFS segment, the following entities will be selling shares:
- Omega TC Holdings PTE Ltd: Up to 10.73 million shares
- Tata Capital Financial Services Ltd: Up to 9.84 lakh shares
- Sargunaraj Ravichandran: Up to 5.80 lakh shares
- Andrew Jones: Up to 4 lakh shares
- Ramalingam Shankar: Up to 3.15 lakh shares
- Ethirajan Balaji: Up to 2.5 lakh shares
Promoters and Lead Managers in TVS Supply Chain IPO
The company’s promoters include the esteemed TVS Group, one of India’s renowned business groups, now part of the TVS Mobility Group. The lead managers to the IPO are JM Financial, Axis Capital, JP Morgan India, Edelweiss Financial, Equirus Capital, and BNP Paribas.
Utilisation of Proceeds From TVS Supply Chain IPO
TVS Supply Chain Solutions Ltd intends to utilise the proceeds from the fresh issue, approximately Rs 600 crore, to repay debt held by the company and its subsidiaries, TVS LI UK, and TVS SCS Singapore. As of March 2023, the total borrowings on a consolidated basis amounted to Rs 1989.62 crore.
TVS Supply Chain: Company’s Performance
In the fiscal year 2022-2023, TVS Supply Chain Solutions Ltd reported a revenue of Rs 10,235.38 crore, up from Rs 9,249.79 crore the previous year. Additionally, the net profit stood at Rs 41.76 crore, a significant improvement from the loss of Rs 45.80 crore in the previous year.
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Conclusion
TVS Supply Chain Solutions Ltd is entering the market with its IPO, offering equity shares in the price band of Rs 187-197. The company aims to raise funds to reduce its debt and further its growth. The stock will be listed on exchanges on August 24, marking a significant milestone for the Chennai-based company and its future endeavours in the supply chain industry.
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Disclaimer: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.