TVS Supply Chain Solutions (TVS SCS) — a Chennai-based provider of supply chain management services — debuted in the secondary market on Wednesday, August 23. The stock entered the listed space at Rs 206.3 apiece on BSE, translating to a premium of Rs 9.3, or 4.7 per cent, over the upper end of the price range of its IPO. The stock began its journey on NSE at Rs 207.1 apiece — a premium of Rs 10.1, or 5.1 per cent.
The listing of TVS Supply Chain Solutions — a TVS group company — was in line with Zee Business Managing Editor Anil Singhvi’s expectations.
The scrip finished the listing day at Rs 201 and Rs 201.1 apiece on BSE and NSE respectively.
EDITOR’S TAKE
Singhvi, who expected TVS SCS shares to list close to the issue price, suggests long-term investors accumulate the stock at lower levels.
TVS Supply Chain Solutions IPO
The TVS Supply Chain Solutions IPO, which opened for subscription from August 10 to August 14, registered an overall subscription of 2.8 times the equity on offer.
Here’s how different types of investors responded to the issue:
| Category | Reservation (%) | Subscription (No. of times the equity on offer) |
| Qualified institutional investors | 75 | 1.4 |
| Non-institutional investors (high net-worth individual investors) | 15 | 2.4 |
| Retail investors | 10 | 7.6 |
| Total | 2.8 |
The public offer received bids for almost seven crore shares as against the total 2.5 crore shares on offer, according to provisional exchange data. That meant a moderate response compared with a host of IPOs this year.
The IPO comprised fresh issuance worth Rs 600 crore, and an offer for sale (OFS) worth up to Rs 280 crore by promoters and existing investors.
What does TVS Supply Chain Solutions do?
TVS Supply Chain Solutions, part of the TVS group of companies, offers a host of integrated supply chain and network solutions to businesses, international organisations and government departments.
TVS SCS has grown organically and through strategic acquisitions to become a fully integrated global supply chain provider with over 18,000 dedicated employees, according to its website.
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