TVS Supply Chain IPO: Firm mobilises ₹396 crore from anchor investors ahead of subscription
TVS Supply Chain IPO: TVS Supply Chain said in an exchange filing on August 9 that it has raised ₹396 crore from 18 marquee anchor investors a day ahead of its IPO subscription opening for bidding. TVS Supply Chain's initial public offering (IPO) will open for subscription on Thursday, August 10 and close on Monday, August 14. The company had fixed the price band at ₹187 to ₹197 per equity share for the proposed initial public offer.
The anchor investor list includes Authum Investment and Infrastructure Limited (Sanjay Dangi), Societe Generale - ODI and Societe Generale, BNP Paribas Arbitrage, Aurigin Master Fund, Franklin India Flexicap Fund, Franklin India Taxshield, Franklin India Smaller Companies Fund, SBI Life Insurance Co. Ltd, Tata Business Cycle Fund, Tata Multi Asset Opportunities Fund, among others. Out of the total allocation, 76,26,828 equity shares (37.94 per cent of the total allocation to anchor investors) were allocated to three domestic mutual funds through eight schemes.
TVS Supply Chain IPO comprises a fresh issue of equity shares aggregating up to ₹600 crore and an Offer for Sale (OFS) component of 1.42 crore equity shares by existing shareholders. Bids can be made for a minimum of 76 Equity Shares and in multiples of 76 Equity Shares thereafter. The company plans to utilise the fresh issue worth ₹600 crore to repay its debt and its subsidiaries’ TVS LI UK and TVS SCS Singapore and for general corporate purposes.
Read more on livemint.com
