TVS Supply Chain shares to make market debut today: Should you expect listing pop?
The TVS Supply Chain Solutions IPO was sold in the Rs 187-197 price band. It ran from August 10 to August 14 and received 2.85 times subscription.
- Aug 23, 2023,
- Updated Aug 23, 2023 7:59 AM IST
TVS Supply Chain Solutions is likely to make a muted stock market debut on Wednesday, despite the recent strong show by other debutants. The volatility in the secondary market and the drying of grey market premium (GMP) in recent days weighed on the listing prospects of TVS Supply Chains.
Last heard, TVS Supply Chain Solutions was commanding a GMP of nearly Rs 5 per share, suggesting a flattish listing over the issue price of Rs 197 apeice. The GMP for the counter has corrected sharply from the peak of Rs 22 amid the volatile market sentiment and lower subscription levels, due to rich valuations and loss-making nature of the business. The Rs 880-crore initial stake sale of TVS Supply Chain Solutions was open for subscription between August 10 and August 14, as the company sold its shares in the range of Rs 187-197 apiece with a lot size of 76 equity shares during its three-day bidding process. The primary stake sale was subscribed 2.85 times. The portion for qualified institutional bidders was booked 1.37 times while that of non-institutional investors' category was subscribed 2.44 times. The quota reserved for retail investors was subscribed 7.89 times. Chennai-based TVS Supply Chain Solutions provides supply chain management services for international organizations, government departments, and large and medium-sized businesses. It offers its services in two segments namely- integrated supply chain solutions (ISCS) and network solutions (NS).
TVS Supply Chain Solutions is likely to make a muted stock market debut on Wednesday, despite the recent strong show by other debutants. The volatility in the secondary market and the drying of grey market premium (GMP) in recent days weighed on the listing prospects of TVS Supply Chains.
Last heard, TVS Supply Chain Solutions was commanding a GMP of nearly Rs 5 per share, suggesting a flattish listing over the issue price of Rs 197 apeice. The GMP for the counter has corrected sharply from the peak of Rs 22 amid the volatile market sentiment and lower subscription levels, due to rich valuations and loss-making nature of the business. The Rs 880-crore initial stake sale of TVS Supply Chain Solutions was open for subscription between August 10 and August 14, as the company sold its shares in the range of Rs 187-197 apiece with a lot size of 76 equity shares during its three-day bidding process. The primary stake sale was subscribed 2.85 times. The portion for qualified institutional bidders was booked 1.37 times while that of non-institutional investors' category was subscribed 2.44 times. The quota reserved for retail investors was subscribed 7.89 times. Chennai-based TVS Supply Chain Solutions provides supply chain management services for international organizations, government departments, and large and medium-sized businesses. It offers its services in two segments namely- integrated supply chain solutions (ISCS) and network solutions (NS).