TVS Supply Chain Solutions Ltd, based in Chennai will soon begin its public subscription period from August 10th to 14th. The company aims to raise around Rs 600 crore through this initiative. Known for its handling of supply chains TVS Supply Chain intends to utilize the funds for repaying its debts. The company has demonstrated growth, in FY23 displaying trends, in both revenue and profit.
Chennai-based TVS Supply Chain Solutions Ltd is set to launch its IPO for subscriptions from August 10 to August 14, with the anchor book opening on August 9. The allotment results will be declared on August 22, and the equity shares will be swiftly credited to allottees’ depository accounts by August 23. The company’s stock is slated to debut on exchanges on August 24.
The company aims to secure approximately Rs 600 crore through fresh issuances, a revised figure compared to the earlier decided Rs 2,000 crore. Correspondingly, the offer-for-sale (OFS) portion has been scaled down from 59 million shares to 14.23 million shares.
In the OFS segment, shares will be divested by various entities: Omega TC Holdings PTE Ltd plans to sell up to 10.73 million shares, Tata Capital Financial Services Ltd up to 9.84 lakh shares, Sargunaraj Ravichandran up to 5.80 lakh shares, Andrew Jones up to 4 lakh shares, Ramalingam Shankar up to 3.15 lakh shares, and Ethirajan Balaji will divest up to 2.5 lakh shares.
The anticipated Rs 600 crore raised from the fresh issue will be allocated towards debt repayment for the company and its subsidiaries – TVS LI UK and TVS SCS Singapore. As of March 2023, the company’s consolidated borrowings totaled Rs 1989.62 crore. The issue is being managed by lead managers JM Financial, Axis Capital, JP Morgan India, Edelweiss Financial, Equirus Capital, and BNP Paribas.
TVS Supply Chain, affiliated with the esteemed TVS Group, a prominent Indian business conglomerate, and now a part of the TVS Mobility Group, specializes in managing intricate supply chains across diverse industries in India and select global markets for over 16 years. The company’s operations encompass four key sectors: supply chain solutions, manufacturing, auto dealership, and aftermarket sales and service.
During FY23, TVS Supply Chain reported a revenue of Rs 10,235.38 crore, an increase from Rs 9,249.79 crore in the previous year. Additionally, the company achieved a net profit of Rs 41.76 crore, marking a turnaround from the Rs 45.80 crore loss incurred in the preceding year.
