TVS Supply Chain sets price band of Rs 187-197 for its IPO. Check details

TVS Supply Chain Solutions has fixed a price band of Rs 187-197 for its IPO, which comprises a fresh issue and an offer for sale. The issue, which opens on August 10, will be available for public subscription till August 14.

The bidding for anchor investors will take place on August 9. The company has already undertaken a pre-IPO placement of Rs 150 crore.

In the Rs 880 crore IPO, fresh issue aggregates up to Rs 600 crore, and the rest is the OFS of 1.42 equity shares. Under the OFS, Omega TC Holdings will offload 1.07 crore shares, while Tata Capital

Financial will sell 9.84 lakh shares.

Other selling shareholders include Sargunaraj Ravichandran, Andrew Jones, Ramalingam Shankar, Ethirajan Balaji, and TVS Motor Co, among others.

Investors can bid for 76 shares in one lot and multiples thereafter. About 75% of the offer is reserved for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail investors.

The share allotment will be finalised on August 21, and the tentative listing date is likely to be August 28.

TVS Supply Chain is among India’s largest and fastest-growing integrated supply chain solutions providers in terms of revenues and revenue growth, respectively, in FY23.

The company is an Indian supply chain logistics solution provider that has a network across the value chain, with cross-deployment abilities. Its operating segments consist of an integrated supply chain solutions (ISCS) and network solutions (NS).

The proceeds from the fresh issue will be utilised for payment of debt availed by the company and its subsidiaries -- TVS LI UK and TVS SCS Singapore -- and for general corporate purposes.

For the year ending March 2023, the company has clocked revenues of Rs 10,235 crore and a profit of Rs 41.76 crore.

JM Financial, Axis Capital, JPMorgan India, BNP Paribas, Edelweiss Financial Services, and Equirus Capital are the book-running lead managers to the issue.