TVS Supply Chain Solutions IPO: TVS Supply Chain Solutions shares listed at 4.72% premium over IPO price on NSE and BSE amid flat domestic market. The share debuted at Rs 206.30 on the BSE, as compared to the issue price of Rs 197. TVS Supply Chain Solutions shares’ grey market premium gained 1.5% on Wednesday, commanding a premium of Rs 3 over upper end of the IPO price, implying a listing price of Rs 200 per share.
TVS Supply Chain Solutions IPO subscription data
TVS Supply Chain Solutions IPO opened for subscription on 10 August and the issue was fully subscribed 2.85 times on the last day of subscription, helped by overwhelming participation from retail investors. The Qualified Institutional Buyers (QIBs) category was subscribed 1.37 times, the portion for non-institutional investors received 2.44 times subscription and Retail Individual Investors (RIIs) quota got oversubscribed by 7.89 times.
“At the upper price band of Rs 197, TVS SCS is available at a P/E of 209x (FY23), which appears aggressively priced compared to peers. However, favourable factors include the fragmented Indian logistics market, growth potential for organized players, post-GST logistics focus, and outsourcing trends. TVS SCS’s asset-light approach, diverse global services, long-term contracts, and integrated capabilities position it well for growth. We assign a “Subscribe” rating for the issue on a short- to medium-term basis,” said Geojit Research.
About TVS Supply Chain Solutions
TVS Supply Chain Solutions (TVS SCS) is a subsidiary of TVS Mobility Group, is a leading integrated supply chain solutions provider in India. With substantial revenue and growth in Fiscal 2023, TVS SCS operates across 25+ countries. Serving 8778 global and 902 domestic clients in FY23, the company caters to diverse sectors such as automotive, industry, consumer products, technology, rail, utilities, and healthcare.