Mumbai: Shares of TVS Supply Chain Solutions were listed at ₹206.30 on Wednesday, 4.7% above the asking price of ₹197. Shares ended at ₹200.95, 2% above the asking price.
TVS Supply Chain Solutions’ ₹880 crore initial public offering was registered 2.78 times earlier this month. This issuance received a bid of 69.9 million shares against the offering size of 25.1 million shares.
The IPO consisted of a new share issue of ₹600 crore and an offer to sell 14 million shares by existing investors. This issue was sold at a price of ₹187-197 per share.
The company provides comprehensive supply chain solutions to businesses and is present in more than 25 countries, with 72 Fortune 500 companies in its client portfolio.