TVS Supply Chain Solutions delivered a mild listing pop, shares debut at premium of 5% at Rs 207.05

TVS Supply Chain Solutions delivered a mild listing pop at debut on Dalal Street on Wednesday as TVS Group company was listed at Rs 207.05 on the National Stock Exchange (NSE), a premium of 5 per cent, against the issue price of Rs 197 apiece. The company was listed at a premium of 5 per cent to Rs 206.30 on BSE.

However, the stock has been on listed better-than-expected lines as the stock was commanding a negligible premium in the grey market a day before its listing. Ahead of its listing, the stock was commanding a mild premium of Rs 5 apiece in the unofficial markets over its given issue price.

The Rs 880-crore initial stake sale of TVS Supply Chain Solutions was open for subscription between August 10-14. The TVS Mobility Group company sold its shares in the range of Rs 187-197 apiece with a lot size of 76 equity shares during the three day bidding process.

The primary stake sale was overall subscribed 2.85 times. The portion for qualified institutional bidders was booked 1.37 times, while the non-institutional investors' category was subscribed 2.44 times. The quota reserved for retail investors was subscribed 7.89 times.

Chennai-based TVS Supply Chain Solutions provides supply chain management services for international organizations, government departments, and large and medium-sized businesses. It offers its services in two segments namely- integrated supply chain solutions (ISCS) and network solutions (NS).

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