TVS Supply Chain IPO: What does the latest GMP signal as focus shifts to allotment

livemint.com:

₹880 crore-worth TVS Supply Chain IPO was subscribed 2.85 times in total as the public issue received bids for 6.99 crore shares as compared to 2.51 crore share on the offer during August 10 to August 14. TVS Supply Chain IPO was subscribed 7.89 times in the retail category and 1.37 times in the Qualified Institutional Buyers’ (QIB) category. The Non-Institutional Investors (NII) portion was booked 2.44 times by August 14, 2023, the last day of the bidding process.

As the subscription period for the IPO comes to an end, focus now shifts to TVS Supply Chain IPO allotment. The basis of allotment of TVS Supply Chain IPO shares is expected to be finalised on August 18, Friday. The company will then initiate refunds on August 21 and credit the shares to the demat accounts of eligible investors on August 22.

Also Read: SBFC Finance IPO: What does the latest GMP signal ahead of listing date; Check key details here TVS Supply Chain listing is likely to take place on August 23, Wednesday, on BSE and NSE. Moreover, investors will also look out for TVS Supply Chain IPO GMP or grey market premium, to have an idea about the expected listing price. TVS Supply Chain IPO GMP today, or grey market premium today, is ₹15 per share, as per IPOWatch.

According to market observers, the shares of TVS Supply Chain Solutions were trading at a premium of ₹15 apiece in the grey market. As per the latest GMP and the upper end of the IPO price band, TVS Supply Chain listing is expected to be at ₹212 per share ( ₹197 + ₹15). However, it must be noted that the GMP is just an indicative price and cannot be considered as an ideal indicator for assessing the listing premium from any IPO.