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Ola Electric to Ather Energy: EV players 'fully refund' wrongful claims

Though the defaulter companies have repaid the Rs 312.42 crore in full, only Rs 183.15 crore has actually reached the customers, the Ministry of Heavy Industries data show

TVS Supply Chain Solutions sells Circle Express for Rs 21.32 crore

TVS Supply Chain Solutions Ltd on Friday said its wholly-owned arm RICO Logistics Ltd has sold the entire stake in subsidiary Circle Express Ltd, UK, for 2.1 million pounds (about Rs 21.32 crore). The move is designed to boost the company's profitability and sharpen its focus on core offerings to its customers, TVS Supply Chain Solutions said in a statement. In a regulatory filing, the company said the entire stake in Circle Express Ltd was sold to Winever Industrial Enterprises (UK) Ltd. "The sale of Circle Express is an important step as it found very little synergy with the core operations and represents an important step in our efforts to enhance our financial performance and sharpen our competitive edge," TVS Supply Chain Solutions Managing Director Ravi Viswanathan said. "We are confident that this sale will allow us to allocate resources more effectively and focus on driving sustainable growth and profitability, thereby increasing shareholder value," he said. By shedding th

TVS Motor announces India's first racing tournament for electric 2-wheelers

Event will be exclusively for company's Apache RTE motorcycles that will make debut

Witnessing trend of rising outsourcing of supply chain activities: TVS SCS

TVS Supply Chain Solutions was witnessing a trend of increasing outsourcing of supply chain activities across industries and a strong pipeline of new opportunities, a top official said. The city-based firm had registered a consolidated net loss for the April-June 2023 quarter at Rs 65.3 crore as compared to a net loss at Rs 1.8 crore during the corresponding quarter of last year. Revenue from operations during the quarter under review stood at Rs 2,342.4 crore from Rs 2,675.5 crore registered in the same period of last year. The profitability showed a decline due to higher interest cost and a one-time exceptional expense of Rs 25.57 crore during the quarter, a company statement here said. The Integrated Supply Chain Solutions business performance was driven by a very strong growth momentum with the segment reporting a revenue of Rs 1,318.8 crore during the April-June 2023 quarter from Rs 1,097.7 crore registered in the same period of last year. The ISCS segment revenue grew in Ind

TVS Motor eyes European market with launch of new Apache RTR 310 bike

Priced at Rs 2.42 lakh, the bike has been positioned competitively considering its BMW counterpart costs Rs 2.85 lakh

TVS Supply Chain Solutions appoints R Dinesh as Executive Chairman

TVS Supply Chain Solutions said on Tuesday its founder-promoter R Dinesh has been appointed the Executive Chairman of the company's Board. Dinesh, who was the Executive Vice Chairman of the newly listed TVS Supply Chain Solutions, will take over from S Mahalingam, the company said in a statement. Mahalingam stepped down as chairman after completing two terms as Independent Director, effective August 29, it said. Besides, the company also announced the appointment of K Ananth Krishnan and Narayan K Seshadri as additional Independent Directors on its Board. With this appointment, the new board will have five Independent Directors, it said. At the same time, the company said, S Ravichandran, Non-Executive Director has resigned from the Board of the company to pursue his personal interests.

TVS Supply Chain makes tepid debut on bourses, IPO subscribed 2.8 times

The stock opened at Rs 206, 4.6 per cent above its issue price of Rs 197

TVS Supply Chain shares settle 2% higher than issue price in debut trade

Shares of TVS Supply Chain Solutions Ltd, a part of TVS Mobility Group, ended with a premium of 2 per cent against the issue price of Rs 197 on the debut trade on Wednesday. The stock was listed at Rs 206.30, up 4.72 per cent from the issue price on the BSE. During the day, it jumped 5.83 per cent to Rs 208.50. Shares of the company ended at Rs 200.95, rising by 2 per cent. At the NSE, it began the trade at Rs 207.05, registering a gain of 5.10 per cent. During the day, the stock rallied 5.88 per cent to Rs 208.60 before settling at Rs 201.10, registering an increase of 2 per cent. The company commanded a market valuation of Rs 8,789.75 crore. In terms of traded volume, 17.59 lakh shares were traded at the BSE and over 2.41 crore shares at the NSE during the day. The Initial Public Offering (IPO) of TVS Supply Chain Solutions was subscribed 2.78 times last week. The Rs 880-crore IPO had a price range of Rs 187-197 per share. TVS Supply Chain Solutions is present in over 25 coun

Stocks to Watch: Torrent Pharma, Cipla, TVS Supply Chain, Titan, AdaniTotal

Stocks to Watch on August 23, 2023: Torrent Pharma has joined the race to buy out Cipla's promoter stake held by the Hamied family, reported The Economic Times

TVS, BMW in discussions to expand manufacturing network beyond India

Chennai-based TVS Motor Company and Germany's BMW Motorrad are in discussions to expand manufacturing network beyond India under their long-term strategic partnership, the companies said on Wednesday. In April 2013, the two firms had entered into a partnership to manufacture sub-500cc motorcycles for global markets. It resulted in the development of four products on the 310cc platform -- BMW G 310 R, BMW 310 GS, BMW G310 RR, which are now available across over 100 markets globally, besides TVS Motor Company's flagship motorcycle TVS Apache RR 310. Under their partnership, TVS Motor's Hosur manufacturing plant produces around 10 per cent of BMW Motorrad's volumes, globally. "And now with the extension and expansion of this partnership towards future technologies and sustainable mobility solutions, we are also in discussions to expand our manufacturing network beyond India to cater to our future growth under this partnership, which includes the recently unveiled BMW CE 02," TVS Motor

TVS Supply Chain IPO subscribed 2.8 times on last day of subscription

The company had earlier raised Rs 396 crore from 18 anchor investors

TVS Supply Chain IPO subscribed 2.78 times on last day of subscription

The Initial Public Offer (IPO) of TVS Supply Chain Solutions, part of TVS Mobility Group, was subscribed 2.78 times on the last day of subscription on Monday. The Rs 880 crore IPO received bids for 6,98,68,624 shares against 2,51,22,289 shares on offer, according to NSE data. The category for Retail Individual Investors (RIIs) was subscribed 7.60 times, while the quota for non institutional investors received 2.35 times subscription. The category for Qualified Institutional Buyers (QIBs) got subscribed 1.35 times. The IPO had a fresh issue aggregating up to Rs 600 crore and an offer for sale of up to 1,42,13,198 equity shares. The IPO had a price range of Rs 187-197 per share. TVS Supply Chain Solutions on Wednesday said it has mobilised Rs 396 crore from anchor investors. Proceeds from the fresh issue to the tune of Rs 525 crore will be utilised for payment of debt availed by the company and its subsidiary TVS LI UK. Besides, funds will be used for inorganic growth strategy and

TVS Supply Chain IPO gets fully subscribed on day two of subscription

The Initial Public Offer (IPO) of TVS Supply Chain Solutions, part of TVS Mobility Group, was fully subscribed on the second day of subscription on Friday. The Rs 880 crore IPO received bids for 2,58,46,384 shares against 2,51,22,289 shares on offer, translating into 1.03 times subscription, as per NSE data. The category for Retail Individual Investors (RIIs) received 3.62 times subscription, the non-institutional investors part got subscribed 1.02 times and the portion for Qualified Institutional Buyers (QIBs) 15 per cent. The IPO has a fresh issue aggregating up to Rs 600 crore and an offer for sale of up to 1,42,13,198 equity shares. The company's IPO is in a price range of Rs 187-197 per share. TVS Supply Chain Solutions on Wednesday said it has mobilised Rs 396 crore from anchor investors. Proceeds from the fresh issue to the tune of Rs 525 crore will be utilised for payment of debt availed by the company and its subsidiary TVS LI UK. Besides, funds will be used for inorgani

TVS Supply Chain Solutions prepares for initial share sale: R Dinesh

TVS Supply Chain Solutions, a part of TVS Mobility Group, is gearing up for the initial share sale that would be open for public subscription from August 10 onwards, officials said on Wednesday. The city-based company is hitting the capital market after a gap of nearly 29 years, Executive Vice-Chairman R Dinesh said. "I think the last time when we raised (funds) was in 1994...," he told reporters. The price band has been fixed at Rs 187-197 for the Rs 880 crore initial public offering (IPO), valuing the company at Rs 8,700 crore. The initial share sale comprises Rs 600 crore of fresh issue and Rs 280 crore sale by the promoters. The IPO would be open for subscription during August 10-14, he said. At the upper end of the price band, the IPO is expected to fetch Rs 880 crore. From the issue's proceeds, Rs 525 crore will be used for pre-existing debt repayment and its subsidiary TVS LI UK. A portion of the fund would also be used for "inorganic growth" and general corporate ...

TVS ILP plans $400-mn investment to double portfolio to 20 mn sq ft

The collaboration between TVS ILP and NIIF IFL aims to expedite the implementation of innovative and economically sustainable solutions

TVS Supply Chain Solutions gets Sebi's approval for launching IPO

It will be the first IPO by TVS family company in three decades, after TVS Electronic in 1994

E2W makers gear up for scale, hope FAME will continue to fuel operations

The key to increasing volumes is to offer more products at varying price points and expand distribution and markets

TVS Credit Services Q4 profit rises 76% at Rs 111 cr as disbursement grow

NBFC credits business growth in FY23 to credit demand and product offerings

TVS Motor's total sales sees 4% YoY uptick to 3.06 lakh units in April

TVS Motor Company on Monday reported a 4 per cent rise in total sales to 3,06,224 units in April 2023 compared to 2,95,308 units in the same month last year. Total two-wheeler sales grew by 5 per cent to 2,94,786 units last month as against 2,80,022 units in April 2022, with domestic sales rising to 2,32,956 units from 1,80,553 units in the year-ago period, TVS Motor Company said in a statement. Sales of electric scooter TVS iQube Electric were at 6,227 units in April 2023 as against sales of 1,420 units in the same month last year, it said, adding the production was constrained last month due to new battery safety norm AIS156 changeover and supply chain challenges. On the export front, the company said overseas shipments were at 71,663 units last month as against 113,427 units April 2022 with two-wheeler exports at 61,830 units, down from 99,489 units in the year ago-month. Three-wheeler sales were at 11,438 units in April 2023 as against 15,286 units in the same month last year,

TVS Eurogrip launches tyres for superbikes, adventure touring segment

The high-performance products have been designed in Europe and built to suit Indian road conditions