TVS SC Solutions announces new IPO filings
TVS Supply Chain Solutions, part of TVS Mobility Group, has re-filed draft IPO papers with capital requests controller Sebi and cut the fresh allocation size to Rs 750 crore from Rs 2,000 crore planned before. The company, which got blessing from Sebi in May 2022 to float the original public immolation (IPO), didn’t launch the issue amid weak request conditions. It had before filed its draft papers in February 2022.
As per rules, an establishment gets one time to hit the primary request after entering a blessing from Securities and Exchange Board of India (Sebi). In case an establishment fails to launch an IPO during this period, it has to refile the prospectus with the controller to seek fresh concurrence.
According to the draft red herring prospectus (DRHP) uploaded on Sebi’s website on Wednesday, TVS Supply Chain results’ original share- trade consists of a fresh issue of equity shares adding up to Rs 750 crore and an Offer for trade (OFS) of over 2 crore equity shares by promoters and being shareholders.
Those offering shares in the OFS include Omega TC effects Pte. Ltd, Tata Capital Financial Services Ltd, Mahogany Singapore Company Pte. Ltd, TVS Motor Company Limited, Kotak Special Situations Fund, Andrew Jones, Ramalingam Shankar, Ethirajan Balaji, Dinesh Narayan and Sargunaraj Ravichandran.
Proceeds from the fresh issue will be utilised for payment of debt profited by the company and its accessories– TVS LI UK and TVS SCS Singapore– and for general commercial purposes. before, the company’s proposed IPO comprised fresh issue of equity shares worth Rs 2,000 crore and an OFS of over to 5.95 crore equity shares.
TVS Supply Chain Solutions (TVS SCS), an intertwined force chain results provider, is present in over 25 countries. TVS SCS is promoted by the quondam TVS Group and is now part of the TVS Mobility Group, which has four business verticals– force chain results; manufacturing; bus dealership and aftermarket deals and service.
The force chain logistics result provider has a long-standing track record of making accessions and integrating them into its own business. The company has acquired and successfully integrated over 20 accessions in the last 15 times, using its accession strategy to acquire a client base, geographical reach and technological capability. JM Financial, Axis Capital, J P Morgan India, BNP Paribas, Edelweiss Financial Services and Equirus Capital are the book running lead directors to the IPO.
About TVS Supply Chain Solutions
TVS Supply Chain Solutions (TVS SCS), part of TVS Mobility Group is among India’s largest and fastest growing integrated supply chain solutions. We were promoted by the erstwhile TVS Group and are now part of the TVS Mobility Group. We believe our lineage benefits us in leveraging its long-standing brand heritage, in-depth understanding of multi-sector dynamics and local markets, operational experience, corporate governance standards, values and trust. Our culture and philosophy of doing business, is in line with the core values of ‘TVS’ of trust, value and service. We also believe that we are in a position to attract talent, customers and network partners due to the recognition of the TVS group.
We are an India based multinational company, who pioneered the development of the outsourced logistics industry in India. For the last 15 years, we have managed large and complex supply chains across multiple industries in India and select global markets through customized tech-enabled solutions.
TVS SCS, over the years, has taken the focused approach to grow both organically and inorganically. Our team of approximately 17,000 people address the supply chain challenges for international organisations, government departments, large and medium-sized businesses, across various sectors.
The company trades on a reputation of being collaborative in its engagement, innovative in its approach and effective in reducing its clients operating costs whilst improving their performance through the accelerated deployment of leading supply chain solutions.
TVS SCS offers end to end supply chain services from Sourcing and procurement, integrated transportation, Logistics Operation Centre and In Plant Logistics, – Finished Goods and After Market Fulfilment, Consultancy and Professional Services, Product Management Solutions. All supported by our Information Systems.
We address supply chain challenges for international organisations, government departments, large and medium-sized businesses and trade on an ability to reduce our client’s operating costs and improve their performance through efficient solutions.