IPO-bound TVS SCS raises Rs 520 cr from Hero, Bajaj, SBI and others

Company has sought market regulator's approval to raise as much as Rs 750 cr

TVS Supply Chain Solutions (TVS SCS) has in the last four months raised Rs 520 crore from a group of investors including Hero Enterprise, Bajaj Holdings and State Bank (SBI) of India as it plans an initial public offering (IPO).

The company, which is part of the TVS family, on Friday sought market regulator Sebi’s approval to raise as much as Rs 750 crore through the IPO. Out of the Rs 520 crore that the company has raised since December, Hero Enterprises invested around Rs 250 crore, SBI around Rs 100 crore and Bajaj Rs 50 crore. The investments take