 "TVS Supply Chain IPO subscribed 2.8 times on last day of subscription")
The initial public offering (IPO) of TVS Supply Chain Solutions was subscribed 2.8 times on Monday, the concluding day of its issue. The institutional investor portion was subscribed 1.35 times, the wealthy investor or high net worth individual (HNI) was subscribed 2.35 times and the retail investor portion was subscribed 7.6 times.
The company had earlier raised Rs 396 crore from 18 anchor investors. The company had priced its IPO between Rs 187 to 197 per share. The Rs 880 crore IPO comprised a fresh issue of Rs 600 crore and an offer for sale of Rs 280 crore. The company plans to utilise the proceeds of the net issue to repay its and its subsidiary's debts.
The company is a supply chains solitons provider. And provides logistics operation centres, in-plant logistics operations, finished goods, and supply chain consulting, among others. The company caters to firms in automotive, industrial, consumer, tech and tech infra, rail and utilities, and healthcare sectors.
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