 "TVS Supply Chain makes tepid debut on bourses, IPO subscribed 2.8 times")
TVS Supply Chain Solutions, which debuted on Wednesday, ended the session 2 per cent above its issue price after opening at Rs 206, about 4.6 per cent above its issue price of Rs 197. After hitting a low of Rs 199 and a high of Rs 208.5, the stock ended at Rs 201, up Rs 4, or 2 per cent.
The initial public offering (IPO) of TVS Supply Chain Solutions was subscribed 2.8 times. After listing, the stock commands a market capitalisation of Rs 8,790 crore. The Chennai-based firm's Rs 880-crore IPO comprised a fresh issue of Rs 600 crore and an offer for sale of Rs 280 crore.
The company plans to utilise the proceeds of the net issue to repay its debts and those of its subsidiaries. The company is a supply chain solutions provider and provides logistics operation centres, in-plant logistics operations, finished goods, and supply chain consulting, among others.