TVS Supply Chain Solutions IPO: Price band fixed at ₹187-197 per share: Check details here

livemint.com:

₹187-197 per share. The ₹880-crore TVS Supply Chain IPO will open for public subscription on August 10 and close on August 14. The bidding for anchor investors will open on August 9, the company said.

TVS Supply Chain Solutions 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. In the OFS, Omega TC Holdings PTE Ltd will sell up to 1.07 crore shares, Tata Capital Financial Services Ltd will sell up to 9.84 lakh shares, Sargunaraj Ravichandran up to 5.80 lakh shares, Andrew Jones up to 4 lakh shares, Ramalingam Shankar up to 3.15 lakh shares and Ethirajan Balaji will sell up to 2.5 lakh shares. At the upper end of the price band, the IPO is expected to fetch ₹880 crore.

Also Read: TVS Supply Chain Solutions IPO to open on August 10; check details here 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. Around 75% of the issue size has been reserved for qualified institutional investors, 15% for non-institutional investors and the remaining 10% for retail investors, the company said. Investors can bid for a minimum of 76 shares and in multiples thereof.

JM Financial, Axis Capital, J P Morgan India, BNP Paribas, Nuvama Wealth Management and Equirus Capital are the book-running lead managers to the IPO. TVS Supply Chain Solutions is present in over 25 countries. The company is promoted by erstwhile TVS Group and is now part of TVS Mobility Group, which has four business verticals -- supply chain solutions, manufacturing, auto dealership, and aftermarket sales and service.