TVS Supply Chain Solutions' IPO to kick off on August 10
The IPO comprises a fresh issue of equity shares aggregating up to Rs 600 crore and OFS of 1.42 crore equity shares by existing shareholders
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New Delhi: The initial share sale of TVS Supply Chain Solutions, part of TVS Mobility Group, will be open for public subscription on August 10.
The Initial Public Offering (IPO) will conclude on August 14 and the bidding for anchor investors will open on August 9, according to the red herring prospectus.
The IPO comprises a fresh issue of equity shares aggregating up to Rs 600 crore and an Offer for Sale (OFS) of 1.42 crore equity shares by existing shareholders. Those offering shares in the OFS include Omega TC Holdings Pte Ltd, Tata Capital Financial Services Ltd, TVS Motor Company Ltd and Kotak Special Situations Fund.
Proceeds from the fresh issue to the tune of Rs 525 crore will be utilised for payment of debt availed by the company and its subsidiaries -- TVS LI UK and TVS SCS Singapore - and the remaining funds for general corporate purposes.
TVS Supply Chain Solutions (TVS SCS), an integrated supply chain solutions provider, is present in over 25 countries. The company is promoted by the erstwhile TVS Group and is now part of the TVS Mobility Group.
JM Financial, Axis Capital, J P Morgan India, BNP Paribas, Edelweiss Financial Services, and Equirus Capital are the book-running lead managers to the IPO.
