TVS Supply Chain IPO Day 1 Details
The TVS Supply Chain IPO has kicked off with a 55% subscription rate on its initial day of trading. Commencing on Thursday, August 10, the IPO is set to conclude its offerings on Monday, August 14.
The IPO has garnered substantial attention from individual retail investors, with notable enthusiasm from non-institutional investors (NIIs) as well. While the interest from qualified institutional buyers (QIBs) has been relatively limited, the response from NIIs has been notably strong.
Retail Portion Oversubscribed at 1.71 Times, NII Segment Subscribed at 69%
The retail investors’ segment of the TVS Supply Chain IPO has witnessed an impressive 1.71 times oversubscription. The NII segment also displayed robust interest, reaching a subscription rate of 69%. On the other hand, the QIB portion only achieved a subscription rate of 8%, while the employee portion remained unsubscribed.
TVS Supply Chain IPO Subscription Status:
The TVS Supply Chain Solutions IPO has drawn bids for 137,498,844 shares, representing 55% of the 251,222,289 shares on offer, according to data sourced from the BSE.
The retail investors’ segment garnered bids for 79,389,960 shares out of the available 46,298,875 shares designated for this category.
Non-institutional investors displayed keen interest, bidding for 47,931,168 shares against the 69,448,813 shares allocated for their segment.
The QIBs’ segment received bids for 10,177,716 shares, compared to the 135,476,601 shares on offer for this category.
TVS Supply Chain IPO Details:
The TVS Supply Chain IPO has set a price band of ₹187 to ₹197 per equity share for its proposed initial public offering. Investors are required to bid for a minimum of 76 equity shares, with subsequent bids to be made in multiples of 76 equity shares.
The IPO distribution is allocated as follows: at least 75% of the shares for Qualified Institutional Buyers (QIBs), up to 15% for Non-Institutional Investors (NIIs), and a maximum of 10% for Retail Investors.
Ahead of the IPO launch, the company successfully raised ₹396 crore from a select group of 18 anchor investors. Notable participants among the anchor investors include Authum Investment and Infrastructure Limited, Societe Generale, BNP Paribas Arbitrage, and various funds managed by Franklin India and Tata.
The TVS Supply Chain IPO consists of a fresh issuance of equity shares amounting to ₹600 crore, as well as an Offer for Sale (OFS) component comprising 142 lakh equity shares from existing shareholders.
The utilization of the fresh issuance funds, estimated at ₹600 crore, will be directed towards debt repayment for both the company and its subsidiaries—TVS LI UK and TVS SCS Singapore—alongside general corporate objectives.
The book-running lead managers for the TVS Supply Chain IPO encompass JM Financial, Axis Capital, JP Morgan India, BNP Paribas, Nuvama Wealth Management, and Equirus Capital. Link Intime India Private Ltd has been assigned the role of IPO registrar.
Also Read: TVS Supply Chain Solutions IPO Details | GMP, Date, Price
TVS Supply Chain IPO GMP:
The Grey Market Premium (GMP) for the TVS Supply Chain Solutions IPO currently stands at +15, exhibiting a decrease from previous trading sessions. This implies that shares of TVS Supply Chain are trading at a premium of ₹15 in the grey market as of Thursday, as per topsharebrokers.com.
Considering the higher end of the IPO price range and the current grey market premium, the projected listing price for TVS Supply Chain shares is anticipated to be ₹212 each, reflecting a 7.61% increase from the IPO price.
On Wednesday, the GMP for the TVS Supply Chain Solutions IPO was ₹22. Industry analysts at topsharebrokers.com are interpreting this trend as an upward movement, suggesting a promising debut for the IPO. The range for GMP fluctuates between ₹0 (lowest) and ₹22 (highest).
The concept of ‘grey market premium’ signifies investors’ inclination to pay a premium beyond the issue price, providing a glimpse into market sentiment.
About TVS Supply Chain:
An international firm that specialises in storage, shipping, and logistics is called TVS Supply Chain Solutions. In India, the UK, Europe, and the US, it offers supply chain management services to clients in the automotive, consumer products, defence, and utilities industries. It is a company of the TVS Group.
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