TVS Supply Chain Solutions Limited’s eagerly awaited initial public offering (IPO) entered the market on August 10, 2023, and is set to close its subscription window today, on August 14, 2023. As the day draws to a close, investors are keenly watching the TVS Supply Chain IPO subscription status. Impressively, the public offering, valued at ₹880 crore, has garnered full subscription despite the prevailing subdued sentiment in the stock market.
The subscription status of TVS Supply Chain IPO stands at 1.85 times as of 01:30 PM on the third day of bidding. Notably, the retail portion of the IPO has shown robust demand, being oversubscribed by 6.04 times, while the Non-Institutional Investor (NII) segment has displayed healthy participation with a subscription rate of 1.73 times.
TVS Supply Chain IPO GMP:
Market experts have been closely monitoring the Grey Market Premium (GMP) for the TVS Supply Chain IPO, with today’s GMP marked at ₹25. Sustaining its stability since Friday, market observers speculate that any market trend shifts could potentially lead to a significant fluctuation in the GMP. The steady GMP is considered a positive indicator, particularly in light of the ongoing negative sentiment in the secondary market owing to escalating tensions between the United States and China.
Should You Consider Applying for the TVS Supply Chain IPO?
In-depth analysis from Reliance Securities suggests a “subscribe” stance for the TVS Supply Chain IPO. Citing compelling reasons, their research report highlights the IPO’s pricing at 10.5 times against its Net Asset Value (NAV) of 18.89 as of March 31, 2023. Bolstered by its robust lineage, tech-driven solutions, and prudent debt reduction strategy from IPO proceeds, the report advocates a long-term “subscribe” recommendation for potential investors aiming to reap substantial rewards.
Concurring with this sentiment, Axis Capital also lends its endorsement to the IPO, emphasizing TVS Supply Chain Solutions Limited’s status as an Indian logistics solutions provider with a global reach across the value chain. With a successful track record spanning over 16 years, the company’s adeptness at managing intricate supply chains across diverse sectors in India and select international markets through tailored technology-enabled solutions is evident. Impressively, TVS SCS achieved a total income of ₹10,311.01 crore in Fiscal 2023, further underlining its prowess and potential in the industry.
About TVS Supply Chain:
TVS Supply Chain Solutions, an Indian multinational corporation, excels in providing transportation, logistics, and warehousing services. It serves a wide range of industries including automotive, consumer goods, defense, and utilities, delivering all-encompassing supply chain management remedies. Operating globally, the company has a presence in India, the United Kingdom, Europe, and the United States. TVS Supply Chain Solutions takes pride in its affiliation with the esteemed TVS Group of companies.
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