TVS Supply Chain IPO on August 10, Price Band Rs 187-197
Chennai-based TVS Supply Chain Solutions Ltd has officially announced the price band for its highly anticipated initial public offering (IPO) at Rs 187-197 per share. The IPO bidding process is scheduled to open on August 10 and conclude on August 14. Prior to that, the anchor book will open on August 9.
The company plans to raise approximately Rs 600 crore from fresh issues, a revised figure from the earlier decided Rs 2,000 crore. Furthermore, there has been a reduction in the offer-for-sale (OFS) portion, with 14.23 million shares to be offered instead of the previously planned 59 million shares.
With the upper band price, the total issue size is estimated at Rs 880 crore, and TVS Supply Chain Solutions Ltd is valued at Rs 9,200 crore.
The basis of allotment is expected to take place on August 22, and the equity shares are likely to be credited to the depository accounts of the allottees on August 23. Subsequently, the stock is set to be listed on the stock exchanges on August 24.
The purpose behind the fresh issue worth Rs 600 crore is to repay debts owed by the company and its subsidiaries, namely TVS LI UK and TVS SCS Singapore. As of March 2023, the company’s total consolidated borrowings stood at Rs 1989.62 crore.
The IPO will witness Omega TC Holdings PTE Ltd selling up to 10.73 million shares, Tata Capital Financial Services Ltd selling up to 9.84 lakh shares, Sargunaraj Ravichandran offering up to 5.80 lakh shares, Andrew Jones putting up to 4 lakh shares for sale, Ramalingam Shankar selling up to 3.15 lakh shares, and Ethirajan Balaji offering up to 2.5 lakh shares in the OFS segment.
Leading financial institutions, namely JM Financial, Axis Capital, JP Morgan India, Edelweiss Financial, Equirus Capital, and BNP Paribas, will act as the lead managers for this much-anticipated IPO.
TVS Supply Chain is backed by the prestigious TVS Group, a renowned business conglomerate in India, and is now a part of the esteemed TVS Mobility Group. With over 16 years of expertise, the company has successfully managed large and intricate supply chains across various industries in India and selected global markets through their tailored, tech-enabled solutions. The TVS Group operates across four key business verticals – supply chain solutions, manufacturing, auto dealership, and aftermarket sales and service.
During FY23, TVS Supply Chain reported impressive financial results, with a revenue of Rs 10,235.38 crore, showcasing a growth from Rs 9,249.79 crore in the previous year. Additionally, the company achieved a net profit of Rs 41.76 crore, rebounding from a loss of Rs 45.80 crore in the previous fiscal year.
About TVS Supply Chain:
TVS Supply Chain Solutions, an Indian multinational corporation, specializes in transportation, logistics, and warehousing services. Catering to various industries such as automotive, consumer goods, defence, and utility sectors, the company offers comprehensive supply chain management solutions. With a global presence, it operates in India, the United Kingdom, Europe, and the United States. TVS Supply Chain Solutions is proud to be a part of the esteemed TVS Group of companies.
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