TVS Supply Chain IPO received positive response from retail investors. While qualified institutional buyers showed limited interest, non-institutional investors (NIIS) responded fairly well to the issue.
TVS Supply Chain IPO’s retail investors portion was subscribed 1.71 times, NII portion was subscribed 69%, QIBs portion was subscribed 8%, and employee portion did not receive any subscription.
TVS Supply Chain Solutions IPO subscription status details
The TVS Supply Chain Solutions IPO has received bids for 1,37,49,844 shares against 2,51,22,289 shares on offer, according to data from the BSE.
TVS Supply Chain Solutions IPO’s retail investors’ portion received bids for 79,38,960 shares against 46,29,875 shares on offer for this segment.
TVS Supply Chain IPO’s non-institutional investors’ portion received bids for 47,93,168 shares against 69,44,813 on offer for this segment.
TVS Supply Chain Solutions IPO’s QIBs portion received bids for 10,17,716 shares against 1,35,47,601 on offer for this segment.
TVS Supply Chain IPO details
TVS Supply Chain IPO price band has fixed the price band at ₹187 to ₹197 per equity share for the proposed initial public offer. Bids can be made for a minimum of 76 equity shares and in multiples of 76 equity shares thereafter.
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.
On Wednesday, the company raised ₹396 crore from 18 marquee anchor investors. The anchor investor list 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 comprises a fresh issue of equity shares aggregating up to ₹600 crore and an Offer for Sale (OFS) component of 1.42 crore equity shares by existing shareholders.
In the OFS, Omega TC Holdings PTE Ltd will sell up to 1.07 crore shares, Tata Capital Financial Services Ltd will sell 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 sell up to 2.5 lakh shares.
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.
Also Read: TVS Supply Chain IPO opens tomorrow: GMP, issue details, 10 key things to know
The book-running lead managers for the TVS Supply Chain IPO are JM Financial, Axis Capital, JP Morgan India, BNP Paribas, Nuvama Wealth Management, and Equirus Capital. Link Intime India Private Ltd is the IPO registrar.
TVS Supply Chain IPO GMP today
TVS Supply Chain Solutions IPO GMP today or grey market premium is +15, lower than previous trading sessions. This indicates that the shares of TVS Supply Chain share price were trading at a premium of ₹15 in the grey market on Thursday, according to topsharebrokers.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of TVS Supply Chain share price is ₹212 apiece, which is 7.61% higher than the IPO price.
On Wednesday, TVS Supply Chain Solutions IPO GMP was ₹22. According to analysts of topsharebrokers.com, trend indicates upside and expects a strong listing. The lowest GMP is recorded at ₹0 while the highest GMP is ₹22.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Also Read: TVS Supply Chain IPO: GMP, subscription status, review, other details. Apply or not?
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Updated: 10 Aug 2023, 04:51 PM IST