Check live subscription status of TVS Supply Chain Solutions IPO on day 2

11 Aug 2023 , 12:21 PM

The initial public offering (IPO) of Concord Biotech, valued at Rs 880 crore, received a tepid response from investors on the first day of bidding. The three-day subscription window commenced on Thursday, August 10, and will remain open until Monday, August 14.

TVS Supply Chain Solutions is offering its shares at a price range of Rs 187-197 per share, allowing investors to place bids for a minimum of 76 equity shares and in multiples thereafter. The IPO consists of a fresh equity shares issuance amounting to Rs 600 crore, while several companies will collectively offload shares worth Rs 280 crore.

As per available data until 12.20 pm on Friday, August 11, 2023, investors submitted bids for 1,89,07,128 equity shares, representing 75% of the total 2,51,22,289 equity shares available for subscription. Notably, the retail investor segment saw an oversubscription of 2.68 times, while non-institutional bidders accounted for only 79% percent of the bids. The qualified institutional bidders’ (QIBs) portion remained undersubscribed at the same time by 8%.

Preceding its IPO launch, TVS Supply Chain Solutions secured Rs 396 crore from 18 anchor investors by allotting 2.01 crore equity shares at an issue price of Rs 197 per share, according to a BSE circular. Prominent anchor investors included Authum Investment, Winro Commercial, Societe Generale, BNP Paribas Arbitrage, Copthall Mauritius, Aurigin Master Fund, and various mutual funds.

The company’s revenue from operations demonstrated consistent growth, exhibiting a Compound Annual Growth Rate (CAGR) of 10.66 percent in FY23.