TVS Supply Chain IPO subscribed 2.78 times

The ₹880-crore initial public offering of TVS Supply Chain Solutions was subscribed 2.78 times on Monday, the last day of bidding. The issue received bids for 69.9 million shares against an offer size of 25.1 million shares.

The qualified institutional buyers (QIB) portion was subscribed 1.35 times, while the non-institutional investor (NII) segment was subscribed 2.35 times. The retail individual investor category saw bids for 7.61 times the shares set aside for them. The issue was sold in a price band of ₹187-197 per share.

TVS Supply Chain raised ₹396 crore last week ahead of the public issue by allotting 20.1 million shares to 18 anchor investors. They included Franklin Templeton Mutual Fund, SBI Life Insurance, Tata Mutual Fund, Societe Generale, BNP Paribas, Copthall Mauritius Investments, Authum Investment, Aurigin Master, and Winro Commercial, among others.