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The initial public offering of TVS Supply Chain Solutions opens on Thursday with price band fixed at ₹187-197 with face value of ₹1 each. The bid/offer will close on August 14. Bids can be made for a minimum of 76 equity shares.
The offer consists of a fresh issue of up to such number of equity shares aggregating up to ₹600 crore, and an offer for sale of up to 1.42 crore shares from promoters and selling shareholders. Among the sellers in the OFS are Omega TC Holdings PTE. Ltd (1.07 crore shares), Tata Capital Financial Services Ltd (9.85 lakh Shares) and Kotak Special Situations Fund and TVS Motor Company (one lakh shares each) and up to 22.94 lakh shares by certain other selling shareholders.
Anchor investors
As part of the IPO process, the supply chain firm on Wednesday raised ₹396 crore from anchor investors by deciding to allot 2.01 crore shares at the upper end of the price-band — ₹197. Among the investors are Franklin Templeton MF, SBI Life Insurance, Sundaram Mutual Fund, Tata MF, Societe Generale, BNP Paribas Arbitrage, Copthall Mauritius Investments, Authum Investment, Aurigin Master, India Opportunities Growth from – Pinewood Strategy, and Winro Commercial, among others.
R Dinesh, Executive Vice-Chairman, TVS SCS, said that it has been 29 years since a TVS family company went public, as the last IPO from the TVS family was in 1994 — TVS Electronics.
Post the family settlement, TVS SCS is now part of the TVS Mobility. “We are genuinely an Indian multinational,” he added.
Revenue details
For the fiscal ended March 2023, the company reported revenue of ₹10,311 crore with the UK contributing 29.67 per cent of the total revenue and India slightly behind with 29.57 per cent, said the company’s Managing Director Ravi Viswanathan.
“We are India’s largest and among the fastest-growing integrated supply chain solutions providers among Indian listed supply chain solutions companies,” he said. The company has 27 million sq ft of warehousing space; 50 multi-client facilities; nine national distribution centres and a presence in 26 countries, he said.
Some of the major customers are Daimler, Sony, Panasonic, Johnson Control, Hero, TVS, Ashok Leyland, Modicare, Varta, Lexmark and Hyundai Motor.
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