TVS Supply Chains Solutions (TVS-SCS), a company promoted by R Dinesh of the TVS Mobility Group, aims to submit a new DRHP (Draught Red Herring Prospectus) to the market regulator Sebi this week to continue its intended listing efforts. The size of the new public offering, which would include a new issue and an OFS (offer for sale) from the current investors, is probably going to be around Rs 1200 crore. In a departure from the prior filing, the promoters are not taking part in the OFS, according to bankers.
TVS Supply Chain Solutions submitted drafted papers for an IPO with a fresh equity issue of up to Rs 2000 crore and an offer for the sale of up to 59.5 million equity shares by the promoter and current investors to the market regulator in February of last year. The company received authorization from Sebi to begin the IPO last May.
TVS SCS submitted drafted papers for an IPO with a fresh equity issue
The bankers claim that the plans for the IPO (Initial Public Offering) were put on hold because of the weak consumer mood amid the conflict between Ukraine and Russia last year. Early next month, the DRHP approval for the TVS supply chain will expire. During the public offerings, it’s anticipated that Tata Capital Financial Services, Mahogany Singapore Company PTE, DRSR Logistics Service, and Omega TC Holdings PTE will sell a portion of their shares.
The company was contacted through email, but there was no response. The first initial public offering (IPO) of the TVS Mobility business in thirty years will be TVS Supply Chains, which is promoted by TVS Mobility, Dhinrama Mobility Solutions, TS Ranjan Rubbers, and R Dinesh. The company last month acquired a minority stake in its subsidiary in order to raise Rs 418 crore in cash as the main capital for its expansion aspirations. Through a private placement, Data Systems. Institutional investors Hero Enterprises, Bajaj Holding, SBI, and Cholamandalam Finance have also become shareholders as a result of the share swap.
TVS SCS is the largest business in the TVS family, after TVS Motors
The primary managers for the books are JP Morgan, JM Financial, Axis Capital, BNP Paribas, Equirus, and Edelweiss Financial Service. For the fiscal year ending in March 2023, the company expects revenues to exceed Rs 10,000 crore, an increase of almost 17% from the previous year. With 18,000 workers and global networks spanning the value chain in over 25 countries, TVS Supply Chain Solutions is a leading Indian provider of supply chain and logistics solutions.
The TVS Mobility Group, of which TVS Supply Chain Solutions is now a part, has four business sectors: manufacturing, SCS (Supply Chain Solutions), vehicle dealerships, and after-market sales & services. TVS Supply Chain Solutions is the second-largest business in the TVS family, after TVS Motors.