Skip to content

TOPNews MEDIA RSS AUSTRALIA

All news from Australia

Menu
  • Home
  • Sorry, all cotents’s has been removed
Menu

Tvs Supply Chain Solutions Gets Sebi Nod To Float Ipo

Posted on 09.05.2022


In Sebi’s parlance, an observation letter is equivalent to approval to go-ahead with the IPO.

TVS Supply Chain Solutions, which had filed the draft papers in February, is planning to hit the markets with a fresh equity issue of up to ₹2,000 crore and an Offer for Sale (OFS) of up to 5.95 crore equity shares by promoter and existing investors.

Those offering shares in the OFS are TVS Mobility, Omega TC Holdings PTE Ltd, Mahogany Singapore Company PTE Ltd, Tata Capital Financial Services Ltd and DRSR Logistics Service.

According to market sources, the size of the initial public offering will be ₹5,000 crore.

The company may consider a pre-IPO placement aggregating up to ₹400 crore. If such placement is completed, the fresh issue size will be reduced, as per the draft papers.

Proceeds from the fresh issue to the tune of ₹1,166 crore will be used to repay debt and ₹75.2 crore will be deployed towards the capitalisation of its strategically important subsidiaries in Germany, USA and Thailand.

Further, ₹60 crore will be infused in the company’s UK arm to increase its stake in Rico UK to 100 per cent and the remaining amount from the net proceeds will be deployed towards inorganic growth and general corporate.

TVS Supply Chain Solutions (TVS SCS), an integrated supply chain solutions provider, is present in over 25 countries and has served more than 60 ‘Fortune Global 500 2021’ clients during H1FY22.

TVS SCS is promoted by the erstwhile TVS Group and is now part of the TVS Mobility Group, which has four business verticals — supply chain solutions; manufacturing; auto dealership and aftermarket sales and service.

The supply chain logistics solution provider has a long standing track record of making acquisitions and integrating them into its own business. The company has acquired and successfully integrated over 20 acquisitions in the last 15 years, using its acquisition strategy to acquire customer 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 managers to the IPO.

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.



Source link – https://topnews-usa.com/crypto-news/tvs-supply-chain-solutions-gets-sebi-nod-to-float-ipo/

Recent Posts

  • 🖼 The Russian Federation is preparing for maximum escalation in the near future, the most difficult battles will be…
  • Shelling of Kherson region: Russians shelled Kherson region again yesterday (02.01.23 08:36) « War in Ukraine
  • unions keep up the pressure, two new dates announced
  • The Russian Federation is reassessing its capabilities in advancing in the Donbass – ISW
  • Crossword Clue Lingerie Selection – Try Hard Guides

WORLD TOPNEWS.MEDIA

USA, CANADA, MEXICO, AUSTRALIA, JAPANE, INDIA, Malaysia, NEW ZEALAND, POLAND, UKRAINE, DENMARK, UNITED KINGDOM, DEUTSCHLAND, ITALIA, SPANISH, FINLAND, NORWEY, SWEDISH, FRANCE, ARAB EMIRATES

RSS Malaysia TOPNews.MEDIA

  • AS kenakan sekatan baharu terhadap pegawai Myanmar
  • Astro, RTM jadi penyiar rasmi Liga M 2023
  • Dr Noor Hisham: Covid-19 admissions up 6.3pc last week
  • Premier De Muara relaunches Picasso Residence, first phase to complete by end of 3Q
  • 15-Year-Old Bangladeshi Boy Shipped To Malaysia After Hide & Seek Game Went Awry

RSS Singapore TOPNews.MEDIA

  • Shelling of Kherson region: Russians shelled Kherson region again yesterday (02.01.23 08:36) « War in Ukraine
  • Should trans prisoners be sent to women’s or men’s prisons?
  • Two former Malaysia prime ministers sued over termination of High-Speed Rail project
©2023 TOPNews MEDIA RSS AUSTRALIA | Design: Newspaperly WordPress Theme