TVS Supply Chain Solutions raises Rs 396 Crore through Anchor Book ahead of issue opening

9 Aug 2023 , 11:06 PM

TVS Supply Chain Solutions, according to its exchange filing, successfully garnered Rs 396 crore from anchor investors on August 9, ahead of its IPO launch. The company’s allocation of 2.01 crore equity shares from the Qualified Institutional Buyers’ (QIB) segment was finalized at a price of Rs 197 per share.

The exchange filing also revealed that a total of 18 investors participated in the company’s anchor book, which included prominent names such as Franklin India Mutual Fund, Tata Mutual Fund, Sundaram Mutual Fund, SBI Life Insurance, Authum Investment, Winro Commercial, Societe Generale, BNP Paribas Arbitrage, Copthall Mauritius, and Aurigin Master Fund.

TVS Supply Chain stated, ‘Out of the total allocation to anchor investors, 76.26 lakh shares were allocated to three domestic mutual funds across eight of their schemes.’

In its primary market initiative, TVS Supply Chain Solutions aims to raise Rs 880 crore at the upper end of the price range, which stands at Rs 187-197. The subscription period for the IPO will span from August 10 to August 14. As per the IPO schedule, the listing of its equity shares on the stock exchanges is scheduled for August 24.