TVS Supply Chain Solutions’ IPO begins Thursday with a price range of ₹187 to ₹197 and a face value of ₹1 each. Offer/offer ends August 14th. Bids can be submitted for at least 76 shares.
The offering consists of a new issue of up to that number of shares for a total value of up to ₹600 crore and an offer to sell up to 1.42 crore of shares from Promoters and Selling Shareholders. Sellers in the OFS include Omega TC Holdings PTE. Ltd (1.07 crore shares), Tata Capital Financial Services Ltd (9.85 lakh shares) and Kotak Special Situations Fund and TVS Motor Company (1 lakh share each) and up to 22.94 lakh shares by certain other selling shareholders.
anchor investors
As part of the IPO process, the supply chain company raised ₹396 crore from anchor investors on Wednesday by deciding to allot 2.01 crore of shares at the high end of the price range – ₹197 crore. Investors include Franklin Templeton MF, SBI Life Insurance, Sundaram Mutual Fund, Tata MF, Societe Generale, BNP Paribas Arbitrage, Copthall Mauritius Investments, Authum Investment, Aurigin Master, India Opportunities Growth from – Pinewood Strategy and Winro Commercial, among others.
TVS SCS Executive Vice-Chairman R Dinesh said it has been 29 years since a TVS family company went public as the last TVS family public offering was in 1994 – TVS Electronics.
Following the agreement with the family, TVS SCS is now part of TVS Mobility. “We are truly an Indian multinational,” he added.
Earnings details
For the fiscal year ended March 2023, the company reported sales of ₹10,311 crore, with the UK contributing 29.67 percent of total sales and India trailing slightly behind at 29.57 percent, said the company’s chief executive, Ravi Viswanathan.
“We are India’s largest and one of the fastest growing integrated supply chain solutions providers among India’s listed supply chain solutions companies,” he said. The company has 27 million square meters of storage space; 50 multi-client facilities; nine national distribution centers and a presence in 26 countries, he said.
Major customers include Daimler, Sony, Panasonic, Johnson Control, Hero, TVS, Ashok Leyland, Modicare, Varta, Lexmark and Hyundai Motor.
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