• IPO comprises a fresh equity share issuance amounting to Rs 600 crore and an Offer for Sale (OFS) of 1.42 crore equity shares.
• Anchor Investor Bidding Date – Wednesday, August 09, 2023
• Bid /Offer Opening Date – Thursday, August 10, 2023 and Bid/ Offer Closing Date – Monday, August 14, 2023.
• Bids can be made for a minimum of 76 Equity Shares and in multiples of 76 Equity Shares thereafter.

MUMBAI, 7 AUGUST, 2023 (GPN): TVS Supply Chain Solutions Limited, a prominent player in the supply chain solutions industry, is set to launch its much-awaited initial public offering (IPO) on Thursday, 10 August 2023.

The company plans to offer its Equity Shares within a price band ranging from Rs 187 to Rs 197 per share. Bids for a minimum of 76 Equity Shares and in multiples of 76 Equity Shares thereafter will be accepted during the IPO process.

The IPO consists of a fresh issue of up to Rs 6,000 million worth of Equity Shares and an offer for sale of up to 14,213,198 Equity Shares, involving various selling shareholders. Among the major selling shareholders are Omega TC Holdings PTE. Ltd., Tata Capital Financial Services Limited, Kotak Special Situations Fund, and TVS Motor Company Limited.

The funds raised from the fresh issue, totalling Rs 525 crore, will be allocated towards the repayment of debt taken by TVS Supply Chain Solutions and its subsidiary, TVS LI UK. Additionally, the capital will be utilised for inorganic growth strategies and general corporate purposes.

With the upper end of the price band in consideration, the IPO is expected to generate Rs 880 crore.

The offer will follow the Book Building Process in accordance with Regulation 6(2) of the SEBI ICDR Regulations. A minimum of 75 per cent of the IPO will be available for allocation on a proportionate basis to Qualified Institutional Buyers (QIBs), with up to 60 per cent of the QIB Portion potentially being allocated to Anchor Investors at the discretion of the Company and the Selling Shareholders.

The Anchor Investor Bidding Date is scheduled for Wednesday, 9 August 2023, one working day prior to the Bid/Offer Opening Date. Domestic Mutual Funds will have a reserved portion, comprising one-third of the Anchor Investor Portion. In case of under-subscription or non-allocation in the Anchor Investor Portion, the remaining Equity Shares will be added to the Net QIB Portion.

Retail Individual Investors (RIIs) will have access to not more than 10 per cent of the IPO, subject to valid Bids being received at or above the Offer Price. Non-Institutional Investors will have access to not more than 15 per cent of the IPO, with specific reservations for different bid size categories.

The Equity Shares offered through Red Herring Prospectus are proposed to be listed on both BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”)

The Book Running Lead Managers (BRLMs) for the Offer include prominent names like JM Financial Limited, Axis Capital Limited, J. P. Morgan India Private Limited, BNP Paribas, Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited), and Equirus Capital Private Limited.

TVS Supply Chain Solutions operates across more than 25 countries and is a part of the larger TVS Mobility Group, encompassing four core business verticals: supply chain solutions, manufacturing, automobile dealership, and aftermarket sales and service.Ends