TVS Supply Chain Solutions IPO opens for subscription; retail portion booked 87%

10 Aug 2023 , 12:34 PM

The TVS Supply Chain Solutions Ltd’s initial public offering (IPO) has made its debut in the primary market today and will continue to be open for bidding until August 14, 2023. The IPO price band for TVS Supply Chain has been set at Rs 187 to Rs 197 per equity share, aiming to raise Rs 880 crore through this public offering. Interested individuals can apply for the IPO by clicking here.

Within the first two hours of its launch, the IPO has garnered bids for 44,17,196 equity shares out of the available 2,51,22,289 shares for subscription. The retail segment has been subscribed by 87%, while the non-institutional investors’ segment has received bids for 5%. The Qualified Institutional Buyers (QIB) segment is yet to be subscribed.

The IPO comprises a fresh issue of 600 crore shares and an offer for sale of 1.42 crore shares. Under the Offer for Sale (OFS), Omega TC Holdings will divest 1.07 crore shares, and Tata Capital Financial will sell 9.84 lakh shares. Other selling shareholders include Sargunaraj Ravichandran, Andrew Jones, Ramalingam Shankar, Ethirajan Balaji, and TVS Motor Co, among others.

Investors can place bids for a minimum of 76 shares in one lot, and subsequently in multiples. The IPO allocation will be finalized on August 21, with the expected tentative listing date set for August 28.

TVS Supply Chain Solutions IPO details:

Open date	10 August 2023
Close date	14 August 2023
Lot size	76 shares
IPO size (Rs crore)	Rs 880 crore
IPO price range (Rs)	Rs 187-197
Minimum investment	Rs 14,972
Basis of allotment date	18 August 2023
Refunds date	21 August 2023
Credit to demat account date	22 August 2023
Listing date	23 August 2023