This TVS Group Company Just Got SEBI's Thumbs Up For An IPO

TVS Supply Chain Solutions, a TVS Mobility Group company, has received approval from the Securities & Exchange Board of India (SEBI) for an Initial Public Offering (IPO). The Chennai-based company had refiled its draft red herring prospectus in April.

What Happened? The approved IPO includes a fresh issue of equity shares worth up to ₹750 crore and an Offer for Sale (OFS) of over 2 crore shares from existing shareholders, including TVS Motor Company Limited, Tata Capital Financial Services Ltd, and others. This is a reduction from the initially planned ₹2,000 crore fresh issue and 5.9 crore OFS.

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The company plans to use the proceeds to pay off debts incurred by itself and its subsidiaries, TVS LI UK and TVS SCS Singapore, as well as for general corporate purposes.

Why It Matters? TVS Supply Chain Solutions, an integrated supply chain solutions provider active in over 25 countries, is a subsidiary of TVS Mobility Group. The group consists of four verticals: supply chain solutions, manufacturing, auto dealership, and aftermarket sales and service.

The IPO’s lead managers are JM Financial, Axis Capital, JP Morgan India, BNP Paribas, Edelweiss Financial Services, and Equirus Capital

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Posted In: GovernmentNewsRegulationsIPOsTVS Mobility GroupTVS Supply Chain Solutions