TVS Supply Chain Solutions, which debuted on Wednesday, ended the session at Rs 197, up 2 per cent from its issue price after opening at Rs 206, about 4.6 per cent higher. After hitting a low of Rs 199 and a high of Rs 208.5, the stock closed at Rs 201, up Rs 4 or 2 per cent.
The initial public offering (IPO) of TVS Supply Chain Solutions was subscribed 2.8 times. Post listing, the market capitalization of the stock is Rs 8,790 crore. The Rs 880 crore IPO of the Chennai-based company included a fresh issue of Rs 600 crore and an offer for sale of Rs 280 crore.
The company plans to use the proceeds from the net issue to repay its debt and that of its subsidiaries. The company is a supply chain solutions provider and provides logistics operations centers, in-plant logistics operations, finished goods and supply chain consulting.
first published: 23 August 2023 | 11:01 PM First