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TVS Supply Chain Solutions IPO receives a positive response on the second day of bidding

Aug 11, 2023

By: BlinkX Research Team

Investors responded favourably to TVS Supply Chain Solutions' public offering, a division of the TVS Mobility Group, as 1.81 crore equity shares were purchased out of a total of 2.51 crores, or 78 percent, on August 11, the second day of bidding.

Retail investors remained aggressive, buying 2.54 times the portion set aside for them, which is 10 percent of the offer size. High net worth individuals have offered 78% of their allotted shares, representing 15% of the IPO's total size. The company has set aside 75% of the IPO for accredited institutions, who have already purchased 8% of the shares.

On the first day of bidding, 55% of the Rs 880 crore public offering was subscribed. The offer's price range has been set at Rs. 187-197 per share, and it will expire on August 14.

The Chennai-based logistic solutions provider intends to mobilise Rs 600 crore from the fresh issue and the rest Rs 280 crore from an offer-for-sale (OFS). Total 22 shareholders are offering their shares in the OFS.

Source: Media Reports