TVS Supply Chain’s IPO will open for subscription on August 10th and close on August 14th.
TVS Supply Chain Solutions provides supply chain management services to international organizations, government agencies, and large and medium-sized companies. TVS SCS provided supply chain solutions to over 10,531 and 8,115 customers worldwide for fiscal year 2022 and the nine months ended December 31, 2022, respectively. And in the same period to over 1,044 and 733 customers respectively in India. As of December 2022, the Company’s global clients included 72 Fortune Global 500 2022 companies, while its Indian clients included 25 Fortune Global 500 2022 companies.
Important details on the TVS Supply Chain Solutions IPO:
- Output size: The company wants to increase 880 crore rupees from the first public offering. These include the new issuance of shares worth Rs. 600 crore and an offer for sale of 14,213,198 shares by promoters and shareholders.
- Price range: TVS Supply Chain has a fixed price range 187-197 rupees per share for its IPO.
- lot size: Investors who want to apply for the IPO can bid 76 shares and its multiples in many.
- Minimum investment: Private investors must make a minimum investment of 14,972 rupees per lot, which consists of 76 shares. On the other hand, the maximum allowable investment for retail investors is 194,636 rupees which is 988 shares (equivalent to 13 lots) as they are allowed to invest up to 2 lakh rupees at the IPO.
- The IPO offering is divided into three categories: 75% of the supply is reserved for qualified institutional buyers (QIBs), 15% is allocated for high net worth individuals (HNIs) and the remaining 10% is reserved for retail investors.
- anchor book: The anchor investment for the IPO will be made on August 9th.
- IPO goals: The Company will use the net proceeds from the IPO to pay off the debt of the Company and its subsidiaries and for other general corporate purposes.
- Allocation basis: The company will complete the allotment of shares on August 22nd.
- listing date: TVS Supply Chain Solutions Limited shares are expected to list on the BSE and NSE on 24th August.
Following discussions with the book-running lead managers, the Company completed a pre-IPO placement which resulted in a reduction in the size of the new issue from the originally planned Rs.750 crore.
ICICI Securities, Axis Capital and Kotak Mahindra Capital Company have been appointed as book-running lead managers (BRLM) for the offering, while KFin Technologies will act as registrar.
In the fiscal year ended March 2023, the company had total sales of Rs. 10,235 crore and profit of Rs. 41.76 crore.
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