TVS SCS IPO garners strong debut with 35% subscription and full retail portion booking

10 Aug 2023 , 03:42 PM

On its debut on August 10, the public offering of TVS Supply Chain Solutions witnessed bids for 77.62 lakh equity shares, constituting 35% of the IPO size of 2.51 crore shares. Retail investors have subscribed 1.52 times their allotted quota, while high net-worth individuals have subscribed to 12% of the portion reserved for them (15% of the issue size) by 3.40 PM. Interested individuals can apply for the IPO by clicking here.

Qualified institutional buyers (QIB), holding up to 75% reservation, are yet to participate in bidding for the offering. The public issue’s bidding phase is set to conclude on August 14.

The subsidiary of TVS Mobility Group intends to raise Rs 880 crore from the IPO, with the price band set at Rs 187-197 per share.

Earlier, the Chennai-based logistics firm secured Rs 396 crore from the anchor book, a portion of QIB, on August 9, a day prior to the commencement of the public issue.