TVS Supply Chain Solutions is gearing up for its initial public offering (IPO) launch scheduled for Thursday, August 10th. The company, which offers supply chain management services to various government departments, international organizations, and medium-sized businesses, will introduce new shares valued at up to Rs 600 crore as part of the IPO.
For its IPO, the supply chain company has established a price range of Rs 187-197 per share. The IPO involves introducing new equity shares amounting to Rs 600 crore, alongside a provision for promotors to offer for sale (OFS) up to Rs 280 crore worth of shares.
Key dates for the IPO-
The bidding for anchor investors commenced on Wednesday, August 9th, while bid offers for the general public will begin on August 10 (Thursday) and conclude on August 14.
Bid lot and minimum investment-
With a price range of Rs 197, the IPO bid lot is set at 76 shares, requiring a minimum investment of Rs 14,972.
IPO size and Offer for sale-
The IPO is projected to generate around Rs 880 crore for the company. The company is making available a maximum of 14,213,198 equity shares with a face value of Rs 1 each.
IPO Objective-
The company states that the IPO has been initiated with the intention of using the funds to prepay or repay Rs 525 crore of outstanding borrowings acquired by its subsidiary, TVS LI UK, and the company itself.
Previously, the company was promoted by TVS Group, which is now integrated into TVS Mobility Group. It holds the distinction of being the nation's most extensive and rapidly expanding integrated supply chain solutions provider, based on its FY23 revenue. The company delivers a range of services including inventory management, purchasing, demand planning, warehousing, and transportation services to its clientele. Its business footprint has extended to cover 26 different countries. During FY23, it catered to a substantial customer base of 8,788 clients.
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