TVS Supply Chain IPO: Bidding ends today. GMP, subscription status, apply or not? | Mint – Mint

TVS Supply Chain IPO: The initial public offering (IPO) of TVS Supply Chain Solutions Limited opened for bidders on 10th August 2023 and it will remain open for bidding till 14th August 2023. This means, TVS Supply Chain IPO subscription is going to end today. After two days of bidding, the public issue worth 880 crore has sailed through as the issue has been fully subscribed despite weak stock market sentiments on Dalal Street. As per the TVS Supply Chain IPO subscription status, the public issue has been subscribed 1.85 times by 01:30 PM on day three of bidding. Meanwhile, grey market sentiments have remained steady in regard to the TVS Supply Chain IPO. According to market observers, shares of TVS Supply Chain Solutions Limited are available at a premium of 25 in grey market today.

TVS Supply Chain IPO GMP

Market observers said that TVS Supply Chain IPO grey market premium (GMP) today is 25. They said that TVS Supply Chain IPO GMP has remained steady since Friday evening and expected that any trend reversal on Dalal Street may lead to big jump in TVS Supply Chain IPO GMP today. They said that grey market mood remaining steady is a good sign as secondary market sentiment have remained negative due to rise in US China tension.

TVS Supply Chain IPO subscription status

By 01:30 PM on day three of bidding, TVS Supply Chain IPO has been subscribed 1.85 times, retail portion of the issue has been subscribed 6.04 times while NII portion of the public offer has been subscribed 1.73 times.

TVS Supply Chain IPO: Apply or not?

Giving ‘subscribe’ tag to the public issue, Reliance Securities research report said, “The issue is priced at 10.5 times based on its NAV of 18.89 as of 31 Mar 2023 and with good legacy parentage, tech enabled and process driven solution company and retirement of debt from IPO proceeds to improve net margins, we recommend a SUBSCRIBE to the issue for long term rewards.”
Axis Capital has also recommended apply to the public issue citing, “The company is an Indian supply chain logistics solution provider that has global capabilities and network across the value chain with cross deployment abilities. For more than 16 years, TVS SCS has managed large and complex supply chains across multiple industries in India and select global markets through customized tech-enabled solutions. During this period, they have grown significantly. Their total income was 10,311.01 crore in Fiscal 2023.”
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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