Chennai-based logistics solutions provider TVS Supply Chain Solutions raised Rs 396 crore via anchor book, a part of the qualified institutional buyer's portion, on August 9, ahead of its issue opening.
The exchange filing by the company indicated that a total of 18 investors invested in the company via anchor book including marquee investors like Franklin India Mutual Fund, Tata Mutual Fund, Sundaram Mutual Fund, SBI Life Insurance, Authum Investment, Winro Commercial, Societe Generale, BNP Paribas Arbitrage, Copthall Mauritius, and Aurigin Master Fund.
The TVS Mobility Group company informed exchanges that it has finalised the allocation of 2.01 crore equity shares to anchor investors. These shares were allocated at a price of Rs 197 per share.
"Out of total allocation to anchor investors, 76.26 lakh shares were allocated to three domestic mutual funds through a total of their eight schemes," TVS Supply Chain said.
The supply chain logistics solution provider is planning to raise Rs 880 crore via its initial public offering which will open for subscription on August 10, with a price band at Rs 187-197 per share.
The public issue comprises a fresh issuance of shares worth Rs 600 crore by the company and an offer-for-sale (OFS) of Rs 280 crore by 22 selling shareholders including Omega TC Holdings Pte Ltd and Tata Capital Financial Services.
Also read: TVS Supply Chain Solutions IPO opens tomorrow: 10 key things to know before you buy
This will be the first IPO from the TVS Group in the last 25 years. The offer will close on August 14.
TVS Supply Chain, among the fastest-growing integrated supply chain solutions provider among Indian listed supply chain solutions companies in terms of revenues and revenue growth in FY23, is going to utilise fresh issues mainly for repaying its debts of Rs 525 crore, besides general corporate purposes.
The listing of its equity shares on the bourses will take place on August 24, as per the IPO schedule.
Its IPO shares traded at a 15 percent premium to the upper price band, in the grey market, analysts said on anonymity. The grey market is an unofficial market for trading in IPO shares till the listing.
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