Shares of TVS Supply Chain Solutions, part of TVS Mobility Group, will be listed at the bourses today., The IPO was 2.78 times, thanks mainly to retail investors. The company has fixed the price at Rs 197, at the upper end of the price band Rs 187-197. The company had raised Rs 880 crore through the issue.

TVS Supply Chain is first company to hit capital market in 29 years from TVS Group.

The category for retail individual investors was subscribed 7.61 times while the portions reserved for non-institutional investors and qualified institutional buyers were subscribed 2.35 times and 1.35 times respectively.

Analysts expect lacklustre listing .

Anubhuti Mishra, Equity Research Analyst at Swastika Investmart Ltd, said: the current grey market premium (GMP) of TVS Supply Chain Solutions is around 2 per cent, which indicates that the shares could list at a price of around Rs. 200 per share.

As part of the IPO process, the supply chain firm had raised ₹396 crore from anchor investors just ahead of the issue by allotting 2.01 crore shares at ₹197 a share. 

The company plans to utilise the fresh issue worth ₹600 crore to repay its debt and its subsidiaries’ TVS LI UK and TVS SCS Singapore and for general corporate purposes.

“Although TVS Supply Chain Solutions is a leading supply chain management company, it operates in a highly competitive industry and has reported losses in the past two years. Additionally, the valuation of the IPO was also very high. All of these factors could impact its listing. Therefore, we would suggest investors to book profits after listing,” said Anubhuti Mishra.

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