TVS Supply Chain Solutions raises Rs 396 crore from anchor investors ahead of IPO
SBI Life Insurance, Tata MF, Societe Generale, BNP Paribas, Copthall Mauritius Investments, Authum Investment, Aurigin Master, and Winro Commercial, among others. TVS SCS’ public issue comprises fresh equity shares aggregating Rs 600 cr and an offer for the sale of 14,213,198 equity shares.
The price band of the issue has been fixed from Rs 187 to Rs 197 per equity share. The issue will close on Monday.
In consultation with the BRLMs, the company has undertaken a pre-IPO placement of 8,486,970 equity shares aggregating Rs 150 crore on July 27 to several investors, including SBI Life Insurance. At the upper end of the price band, the issue will raise around Rs 880 crore.
Several domestic brokerage houses have recommended a ‘subscribe’ to the offer with a long-term investment horizon. This is the first offer from TVS Group in over two decades.
TVS Supply Chain is among India’s largest and fastest-growing integrated supply chain solution providers in terms of revenues in FY23. The company has a cross-deployment network across the value chain and operates in integrated supply chain solutions (ISCS) and network solutions (NS).
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