TVS Supply Chain's IPO opens on Thursday
IPO) of TVS Supply Chain Solutions will open for public subscription on Thursday. The company has fixed a price band of ₹187 -197 per share for the issue, which will close on Monday.
The IPO comprises ₹600 crore of fresh issue and an offer for the sale of shares worth ₹280 crore by the existing shareholders, including Tata Capital, TVS Motors, Omega TC Holdings, and Kotak Special Situations Fund, among others. The proceeds from the IPO will partly be used to reduce debt.
The company, in consultation with the book-running lead managers, has undertaken a pre-IPO placement, and accordingly, the fresh issue size has been reduced from ₹750 crore. At the upper end of the price band, the valuation of the company stands at ₹8,750 crore.
The company has posted an 11% growth in revenue from operation in FY23 to ₹10,235 crore from a year ago. It posted a net profit of ₹41.76 crore in FY2023 compared to a net loss of ₹45.80 crore the previous year.
The company provides end-to-end supply chain solutions to businesses and has a presence in over 25 countries. The TVS group has four business verticals such as manufacturing, auto dealership, supply chain solutions, and aftermarket sales and services.JM Financial, Axis Capital, JP Morgan India, BNP Paribas, Edelweiss Financial Services, and Equirus Capital are the bankers to the issue.
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