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TVS Supply Chain IPO opens tomorrow: GMP, issue details

TVS Supply Chain IPO will open for subscription on Thursday, August 10. TVS Supply Chain Solutions, promoted by the erstwhile TVS Group, is now part of the TVS Mobility Group.

The company is divided into four business sectors: manufacturing, supply chain solutions, auto dealerships, and aftermarket sales and services. The Chennai based supply chain logistics solutions provider had in April refiled draft red herring prospectus (DRHP) with Securities & Exchange Board of India (SEBI) for the IPO. It received capital market regulator’s approval for the launch of IPO in July.

Here are the 10 key things to know about TVS Supply Chain IPO;

TVS Supply Chain IPO date: TVS Supply Chain IPO opens for subscription on Thursday, August 10, and closes on Monday, August 14.

TVS Supply Chain IPO price band: The company has fixed the price band at 187 to 197 per equity share for the proposed initial public offer.

TVS Supply Chain IPO lot size: Bids can be made for a minimum of 76 Equity Shares and in multiples of 76 Equity Shares thereafter

Anchor Investors: The allocation to anchor investors for TVS Supply Chain IPO is scheduled to take place on Wednesday, August 9.

TVS Supply Chain IPO details: TVS Supply Chain 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.

TVS Supply Chain IPO objectives: 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.

TVS Supply Chain IPO listing date and allotment details: TVS Supply Chain IPO’s basis of allotment of shares will be finalised on Friday, August 18 and the company will initiate refunds on Monday, August 21, while the shares will be credited to the demat account of allottees on Tuesday, August 22. TVS Supply Chain IPO shares are likely to be listed on BSE and NSE on Wednesday, August 23.

Lead Manager and Registrar of TVS Supply Chain IPO: The book-running lead managers for the TVS Supply Chain IPO are JM Financial, Axis Capital, JP Morgan India, BNP Paribas, Nuvama Wealth Management, and Equirus Capital. Link Intime India Private Ltd is the IPO registrar.

TVS Supply Chain IPO reservation: TVS Supply Chain IPO has reserved not less than 75% of the shares in the public issue for Qualified Institutional Buyers (QIB), not more than 15% for Non Institutional Investors (NII), and not more than 10% of the offer is reserved for Retail Investors.

TVS Supply Chain IPO GMP today: TVS Supply Chain IPO GMP or grey market premium is +22, higher than previous trading sessions. This indicates that the shares of TVS Supply Chain share price were trading at a premium of 22 in the grey market on Wednesday, according to topsharebrokers.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of TVS Supply Chain share price is 219 apiece, which is 11.17% higher than the IPO price.

On Tuesday, TVS Supply Chain IPO GMP was 0. According to analysts of topsharebrokers.com, trend indicates upside and expects a strong listing. The lowest GMP is recorded at 0 while the highest GMP is 22.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.