The TVS Supply Chain IPO will be closing today. It was subscribed 2.78 on day 3 so far. The TVS Supply Chain IPO opened on 10th August.
Overwhelming response has been recorded by the retail investors on the third day. Positive response was given by qualified institutional buyers and non-institutional investors (NIIS) to the issue on the third day.
TVS Supply Chain IPO’s retail investors portion was subscribed 7.61 times, NII portion was subscribed 2.35 times, and QIBs portion was subscribed 1.35 times.
Coming to the subscription status of the TVS Supply Chain Solutions IPO, as per a BSE data, it has received bids for 6,98,93,628 shares against 2,51,22,289 shares on offer, at 17:00 IST.
TVS Supply Chain Solutions IPO’s retail investors’ portion received bids for 3,52,11,560 shares against 46,29,875 shares on offer for this segment.
The portion of non-institutional investors of the TVS Supply Chain IPOs received bids for 1,63,48,436 shares against 69,44,813 on offer for this segment.
Bids for 1,83,33,632 shares were received from the QIB portion of TVS Supply Chain Solutions’ IPOs compared with 1,35,47,601 offered to this segment.
For the proposed Initial Public Offering of TVS Supply Chain, the price band has been set at 187 to 197 for each equity share. After that, bids may be made for a minimum of 76 equity shares and multiples of 76 equity shares.
The TVS Supply Chain IPO has reserved not less than 75% of the shares in the public issue for Qualified Institutional Buyers (QIB), not more than 15% for Non Institutional Investors (NII), and not more than 10% of the offer is reserved for Retail Investors.
Rs 396 crore was raised on Wednesday by the company from 18 marquee anchor investors. The list of anchor investor includes Authum Investment and Infrastructure Limited (Sanjay Dangi), Societe Generale – ODI and Societe Generale, BNP Paribas Arbitrage, Aurigin Master Fund, Franklin India Flexicap Fund, Franklin India Taxshield, Franklin India Smaller Companies Fund, SBI Life Insurance Co. Ltd, Tata Business Cycle Fund, Tata Multi Asset Opportunities Fund, among others.
TVS Supply Chain IPO has a fresh issue of equity shares totalling Rs 600 crore and an offer for sale (OFS) component by existing shareholders in the amount of 1.42 crore equity shares.
In the OFS, 1.07 crore shares will be sold by Omega TC Holdings PTE Ltd, 9.84 lakh shares will be sold by Tata Capital Financial Services Ltd, up to 5.80 lakh shares to be sold by Sargunaraj Ravichandran, up to 4 lakh shares by Andrew Jones, up to 3.15 lakh shares by Ramalingam Shankar and 2.5 lakh shares will be sold by Ethirajan Balaji.
The company plans to utilise the fresh issue worth ₹600 crore for the repayment of its debt and subsidiaries’ TVS LI UK and TVS SCS Singapore as well as for general corporate purposes.
JM Financial, Axis Capital, JP Morgan India, BNP Paribas, Nuvama Wealth Management, and Equirus Capital are the book-running lead managers for the TVS Supply Chain IPO. And the IPO registrar is Link Intime India Private Ltd.
Today, the GMP of TVS Supply Chain Solutions IPO is +2.25, which is lower than previous trading sessions. According to topsharebrokers.com, this shows that the shares of TVS Supply Chain share price were trading at a premium of ₹2.25 in the grey market on Monday.
The estimated listing price of TVS Supply Chain share price is ₹199.25 apiece, which is 1.14% higher than the IPO price considering the upper end of the IPO price band and the current premium in the grey market.
On Sunday, the GMP of TVS Supply Chain Solutions IPO was ₹13. As per the analysts of topsharebrokers.com, trend indicates upside and expects a strong listing. The lowest GMP is recorded at ₹0 with the highest GMP being recorded at ₹22.