TVS Supply Chain Solutions, part of TVS Mobility Group, has received approval from Sebi to raise funds through initial share sales. It will be the first TVS Group company to go public in more than two and a half decades.
The IPO consists of a new issue of shares with a total value of up to Rs.2,000 crore and an OFS of up to 5.95 crore shares by the company’s founder and existing investors.
According to media reports, the company will use Rs 1,300 cr (from the Rs 2,000 cr) to repay loans and invest in its overseas operations. The rest of the funds are expected to be used for strategic acquisitions.
TVS Supply Chain Solutions has had a rich record of acquisitions in recent years, particularly from foreign companies. Data shows that the company has acquired around 20 companies over the past decade and a half.
The company operates two core businesses – network solutions and integrated supply chain solutions.
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