TVS Supply Chain Solutions Ends At Over 2% Premium To IPO Price On Debut

Shares of TVS Supply Chain Solutions Ltd. listed at Rs 207.05 apiece on the NSE, a premium of 5.10% to their IPO price of Rs 197 apiece.

On the BSE, the stock debuted at Rs 206.30, a 4.72% premium.

The shares ended at a premium of 2.01% over the IPO price, though it declined 2.59% from its listing price to end at Rs 200.95 apiece.

The initial public offering was subscribed 55% on the first day, 1.03 times on day 2 and 2.78 times on day 3.

TVS Supply Chain Solutions raised Rs 396 crore from anchor investors ahead of the IPO. Two-crore equity shares allotted at Rs 197 apiece. Key investors include Societe Generale, BNP Paribas, Franklin India, SBI Life Insurance, Sundaram MF and Tata Business Cycle Fund.

TVS Supply Chain Solutions is a multinational corporation that specialises in supply-chain management for international organisations, government departments, and large and medium-sized businesses.

The firm is a part of the TVS Mobility Group and provides services in two categories: 

• Integrated supply-chain solutions 

• Network solutions

Sourcing and procurement, integrated transportation, logistics operation centres, in-plant logistics operations, finished goods, aftermarket fulfillment and supply-chain consulting are all part of the ISCS category.

The funds raised will be employed for the following purposes:

• Prepayment or repayment of all or a portion of outstanding borrowings owed by the company and its subsidiary, TVS Logistics Investment U.K.

• General corporate purposes.