TVS Mobility-backed TVS Supply Chain Solutions on Monday fixed a price band of Rs 187–197 apiece for its Rs 600 crore initial public offering.
The initial share sale will be open for public subscription from Aug. 10 to Aug. 14, the company said.
The IPO comprises a fresh issue of equity shares aggregating up to Rs 600 crore and an offer-for-sale of 1.42 crore equity shares by existing shareholders.
Those offering shares in the OFS include Omega TC Holdings Pte Ltd., Tata Capital Financial Services Ltd., TVS Motor Company Ltd., and Kotak Special Situations Fund.
Proceeds from the fresh issue to the tune of Rs 525 crore will be utilised for repayment of debt availed by the company and its subsidiaries, viz., TVS LI U.K. and TVS SCS Singapore, with the remaining funds to be used for general corporate purposes.
Investors can bid for a minimum of 76 equity shares and in multiples of 76 equity shares thereafter.
JM Financial, Axis Capital, J.P. Morgan India, BNP Paribas, Nuvama Wealth Management, and Equirus Capital Private are the book-running lead managers for the issue. The equity shares are proposed to be listed on the BSE and NSE.
TVS Supply Chain Solutions, present in over 25 countries, is an integrated supply chain solutions provider, offering services for supply chain management and logistics requirements.
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