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CHENNAI: The shares of TVS Supply Chain Solutions, the logistics entity part of the TVS Group, had a subdued opening on the stock exchanges.
The stock listed at Rs 207 on the NSE, a premium of 5.1% to its IPO price of Rs 197. On the BSE, the stock debuted at Rs 206.30, a 4.7% premium. The shares closed the trading day at Rs. 201 on the NSE.
Promoted by the erstwhile TVS Group and now part of TVS Mobility Group, with R Dinesh as its executive vice chairman, TVS SCS pioneered the development of supply chain solutions market in India. for the last 15 years, TVS SCS has managed large and complex supply chains across multiple industries in India and select global markets through customized tech-enabled solutions.
TVS SCS raised Rs 396 crore from anchor investors ahead of the IPO. The IPO was subscribed around 2.8 times overall. The offer comprised a mix of fresh issue of Rs 600 crore and an offer for sale (OFS) of Rs 280 crore. The fresh issue will be utilized for payment of debt availed by the company and its subsidiaries.
The company posted revenue of Rs. 10,235 crore for FY23, and its profit came in at Rs 41.8 crore in FY23 compared to a loss of Rs 45.8 crore in FY22.
The stock listed at Rs 207 on the NSE, a premium of 5.1% to its IPO price of Rs 197. On the BSE, the stock debuted at Rs 206.30, a 4.7% premium. The shares closed the trading day at Rs. 201 on the NSE.
Promoted by the erstwhile TVS Group and now part of TVS Mobility Group, with R Dinesh as its executive vice chairman, TVS SCS pioneered the development of supply chain solutions market in India. for the last 15 years, TVS SCS has managed large and complex supply chains across multiple industries in India and select global markets through customized tech-enabled solutions.
TVS SCS raised Rs 396 crore from anchor investors ahead of the IPO. The IPO was subscribed around 2.8 times overall. The offer comprised a mix of fresh issue of Rs 600 crore and an offer for sale (OFS) of Rs 280 crore. The fresh issue will be utilized for payment of debt availed by the company and its subsidiaries.
The company posted revenue of Rs. 10,235 crore for FY23, and its profit came in at Rs 41.8 crore in FY23 compared to a loss of Rs 45.8 crore in FY22.
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