CHENNAI: TVS Supply Chain Solutions (SCS) Limited listed a 5% premium over the issue price of Rs 197 on Wednesday. It was listed at Rs 206.30 on the BSE and 207.05% on NSE.
The price band for TVS SCS, part of the TVS Mobility Group, was fixed at Rs 189 to Rs 197. The offer opened for public subscription on August 10 and closed on August 14.
IPO was subscribed 2.85 times, Qualified Institutional Buyers (QIB) subscribed 1.37 times, and Non-institutional investors (NII) subscribed 2.44 of their portion. Retail investors subscribed 7.89 times the issue. It received a total of 365,026 applications (6.21 times).
However, analysts expect a muted response in the market as it wasn't attractive to investors.
TVS SCS plans to utilize fresh issues for prepayment or repayment of its outstanding borrowings and for its subsidiary - TVS LI UK and for general corporate purposes.
The supply chain company has registered a revenue of 10,311 crores with a profit after tax of Rs 41.76 crores in the year ended in March 2023. Its market capitalization is at 8746 crores and the return on equity stood at 5.50% and the return on capital employed stands at 7.64%.
TVS SCS is one of the largest supply chain solutions providers among Indian listed companies in terms of revenues. It has a presence in 26 countries including India, United Kingdom, Spain, Germany, Australia and Singapore, among other places.