TVS Supply Chain IPO: Latest GMP, subscription status. Apply or not?

livemint.com:

TVS Supply Chain IPO: The Initial Public Offering (IPO) of TVS Supply Chain Solutions Ltd opened for bidding on 10th August 2023 and it will remain open for bidding till 14th August 2023. This means, TVS Supply Chain IPO subscription will end on Monday next week. After two days of bidding, the public issue worth ₹880 crore has been subscribed 1.03 times whereas its retail portion has been subscribed 3.62 times.

Meanwhile, after two days of bidding, grey market mood has gone upside as the issue has been fully subscribed despite weak stock market sentiments. According to market observers, TVS Supply Chain solutions IPO GMP (grey market premium) has surged to ₹25, which was ₹20 on Friday. They said that grey market premium has risen despite weak stock market sentiments, which is a good sign in regard to grey market mood.

They said that grey market mood may go further upside once there is trend reversal on Dalal Street. After two days of bidding, the public issue has been subscribed 1.03 times whereas its retail portion has been subscribed 3.62 times. The NII portion of the book build issue has been subscribed 1.02 times.

Giving ‘subscribe’ tag to TVS Supply Chain IPO, Geojit Securities research report says, "At the upper price band of ₹197, TVS SCS is available at a P/E of 209x (FY23), which appears aggressively priced compared to peers. However, favourable factors include the fragmented Indian logistics market, growth potential for organized players, post-GST logistics focus, and outsourcing trends. TVS SCS's asset-light approach, diverse global services, long-term contracts, and integrated capabilities position it well for growth.